• Breaking News

QBRC Consortium ‘zeroing in’ on offer for Aventas Group

Tuesday, 15th April, 2014 3:25pm

Story by Seamus Enright
Jump to comments
QBRC Consortium ‘zeroing in’ on offer for Aventas Group
QBRC Consortium ‘zeroing in’ on offer for Aventas Group

The Quinn Business Retention Company (QBRC) have told The Anglo-Celt they are now “rapidly zeroing in on a fully-funded offer” for the former Quinn-owned group of companies, now rebranded Aventas, which could materialise within “a matter of weeks”.
Fine Gael Cllr John McCartin from Ballinamore and Director of QBRC said that the consortium of local businessmen and former Quinn Group directors had made “significant progress” in formulating a bid for the former Quinn manufacturing businesses.
“We are rapidly zeroing in on a fully funded offer. We feel that we are within striking distance of an arrangement that will be in the best interests of the group, its current investors and the wider community,” Cllr McCartin said.
The news comes following the release of a joint cross-party statement from elected representatives from all main political parties in Fermanagh and South Tyrone calling on the board of directors of Aventas to postpone plans to sell off or break any part of the group until such time as all prospects of “keeping it intact and continued to be managed locally have been fully explored and exhausted”.
While not favouring any specific proposal or organisation in the takeover, the representatives say any initiative, which proposes to retain the businesses under a locally-based common management structure, should be fully explored “as a matter of priority”.
“There is a desire that this be done in advance of any piecemeal disposal of the constituent parts of the former Quinn Group,” reads the statement. “The representatives are of a common view that keeping the former Quinn Group of companies together would represent the best outcome for the local workforce and the best opportunity for future investment in the businesses locally.”
The group of representatives comprise Michelle Gildernew, Bronwyn McGahan, Joe Byrne, Lord Morrow of Clogher Valley, Phil Flanagan, Sean Lynch and Tom Elliott further condemned the ongoing incidents of sabotage and intimidation, which they said “run counter to the interests of this community”.
Cllr McCartin welcomed the statement from the northern elected representatives, saying the consortium takes great encouragement from the overwhelming support received from across the board thus far.
“QBRC has from the outset held the opinion that the group has more value as a whole. This value can be best realised in the long term through local management. Our sentiment has gained traction among investors.
“We hope that a formal offer can be made for the group in a matter of weeks. It is imperative that Aventas postpone any piecemeal disposal of assets until this offer has been finalised,” he said.

Keep up-to-date with the latest news from around the county with an Anglo Celt Epaper subscription from €2.20* 

Group Publications

Your Forum
    Cookies on Anglo Celt website
    We use cookies to ensure that we give you the best experience on our website. We also use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on the Anglo Celt website. However, if you would like to, you can change your cookie settings at any time by amending your browser settings.
    How does Anglo Celt use cookies?
    Cookies enable us to identify your device, or you when you have logged in. We use cookies that are strictly necessary to enable you to move around the site or to provide certain basic features. We use cookies to enhance the functionality of the website by storing your preferences, for example. We also use cookies to help us to improve the performance of our website to provide you with a better user experience.
    We don't sell the information collected by cookies, nor do we disclose the information to third parties, except where required by law (for example to government bodies and law enforcement agencies).
    Hide Message