Public meeting to discuss sale of glass business

A public meeting is set to be held at the Community Centre in Ballyconnell later this evening, from 8pm, to discuss the imminent sale of the former Quinn Glass plant, recently rebranded Encirc.

Billed as a meeting for Quinn workers, their families and local people “concerned for the future of jobs” in the locality, the event is being held against a backdrop of rumoured mass walkout by staff at the glass plant later this week also.

Staff and management at the glass plant first received word late last week that a “preferred bidder”, understood to be Spanish company Vidrala, had been identified, and the sale process was already at an advanced stage.

Since then, local action groups, such as Concerned Irish Citizen have taken to social media to spread word of the meeting, and criticise Aventas Group and CEO Paul O'Brien, over what they describe as an attempt to “sneak through a sell-out to a foreign company”, citing that a “local bid” had been blocked.

Aventas Group though deny this, and released a statement on Sunday afternoon, stating that there had been no “solid” local bid for the glass plant.

Aventas said that following an extensive bidding process, during which five formal “fully funded” bids were received, a preferred bidder had been identified.

While admitting that an expression of interest from London-based financial advisor acting on behalf of a “local group” was received in October 2014, “no formal funded offer was ever submitted nor has there been any further communication from this financial advisor since November.”

“The preferred bidder is a family controlled business which has been in the glass industry for 50-years.

“During that time that time they have made a number of acquisitions and have never closed a plant. They own multiple plants across Europe but no operations in Ireland and Britain which is why both plants in Encirc are such an important acquisition for them. The Derrylin and Elton plants would be some of the most modern facilities in their portfolio.”

Aventas say as part of the bidding process they sought assurances from bidders as to their intentions in respect of their commitment to employment and involvement in the local facilities.

Aventas states that Virdala's intention is that Encirc would remain a “separate standalone subsidiary”, retaining both identity and autonomy from the parent company, and have indicated an firm interest in integrating with the local communities.

“The preferred bidder is fully committed to and will replicate in the Derrylin and Elton communities the success story of the other acquisitions,” Aventas said.

The sale comes soon after local consortium Quinn Business Retention Group (QBRC) completed a deal for the purchase of part of the former Quinn Group of businesses, including construction and packaging.

The Unite union, which represents workers at the plant, has welcomed commitments by any new buyer to retain the local management team and proposed investment at the glass plant.

“We welcome the announcement that the preferred bidder will retain the factory's local management team and has the significant reserves necessary to upgrade the Derrylin/ Ballyconnell furnace.

“Such an investment provides considerable surety as to the long-term commitment of the bidder to the plant.

“We will continue to liaise with all relevant parties throughout the process of transfer.”