A round-up of today's other stories in brief
Aer Lingus maintenance deal for tender
Aer Lingus said yesterday that it plans to put its aircraft maintenance contract out to tender when its existing 10-year deal with SR Technics (SRT) expires late next year.
SRT is a Swiss-based company that owns the former Team Aer Lingus. The 10-year contract was a legacy of that sale agreement.
Latest accounts for SRT's Dublin operation show it made an operating loss of €1.6 million on turnover of €128 million in the year to the end of December 2006. This compared with an operating loss of €9.4 million in 2005, due largely to the cost of restructuring the business.
Aer Lingus is one of SRT's biggest customers in Dublin and losing the contract would be a big blow to the aircraft maintenance group. SRT employs more than 1,200 staff in Ireland.
Aer Lingus spent €73 million on maintenance costs in 2006. It is not clear how much of this would have been paid to SRT.
Aer Lingus said the tender process would "commence shortly" and that "a number of potential maintenance providers, including SRT, will be invited to participate".
Profits fall at printing group
Turnover at Dublin contract printers, Ashville Media Group, fell 10 per cent to €5.5 million in 2006, while pretax profit dropped to €23,445 from €279,215, according to accounts just filed.
The company, which prints more than 100 publications, including magazines, diaries, annual reports, brochures and newsletters, is owned by businessman Diarmaid Lennon.
Treasury changes group structure
Property developer Treasury Holdings has reorganised the group into four divisions: Ireland, the UK, China and International.
John Bruder will take charge of Treasury Holdings Ireland, while Robert Tincknell, who has been working with the group in China, will run Treasury Holdings UK and its International division. Richard David will join the company from Macquarie Bank China.
Airtricity opens Scottish facility
Irish wind energy group, Airtricity, yesterday opened a facility in Scotland that will produce enough electricity to supply 45,000 homes.
Acquisitions boost Lundin
Lundin Mining, owner of the Galmoy zinc and lead mine in Co Kilkenny, recorded a substantial increase in third-quarter profit thanks to a series of acquisitions.
Earnings before interest, depreciation, tax and amortisation was $142.2 million (€97 million) in the three months to the end of September, compared with $59.2 million in the same period last year.
Lundin's sales were $292.8 million, up from $98.9 million.
