Business

The key differentiator between ‘Lean’ processes in Japan and Europe is that in Japan there is less focus on hard automation and more on the development of people, according to Dr. Richard Keegan, a fellow of the Institute of Engineers and manager of the competitiveness department at Enterprise Ireland. Keegan had first exposed to the concept around 16 years ago in his capacity as the European advisor to the EU-Japan Centre for Industrial Co-operation when he went to a Toyota plant. “Being an engineer and having the opportunity to see the Lean best practice in real life was an eye-opener. The first thing I noticed was all the flashing lights…

Following revelations that Quinn Insurance lost more than €700m in the year prior to it being placed into administration, former head of the insurer Sean Quinn is still insisting the blame lies with the accountants currently in charge. Quinn has claimed that the business had €1.1bn in liquid assets and €464m in property when Michael McAteer and Paul McCann were appointed as administrators.

Seán Quinn Jr., the son of former Irish billionaire Séan Quinn Snr, was released from Mountjoy Prison in Dublin on August 3, 2012, after serving a three-month sentence for contempt of court. His imprisonment was related to a legal dispute between the Quinn family and the Irish Bank Resolution Corporation (IBRC), formerly Anglo Irish Bank. Justice Elizabeth Dunne said it was not a matter for the court to decide on Quinn Jnr’s release time – it was up to the prison authorities. He was released from Mountjoy shortly after the hearing, having served three months. Meanwhile, a new legal team asked the court for more time to prepare a defense for Seán Quinn Snr. Lawyers for…

Permanent TSB has agreed to buy the deposit business of Northern Rock Ireland, the company announced today. The retail banking arm of Irish Life & Permanent is to buy €650m of deposits from Northern Rock’s Irish business, which currently has 17,000 customers. This is the second major acquisition of deposits by Permanent TSB Bank in the past six months. The bank acquired €3.6bn in deposits from the Irish Nationwide Building Society in February. “This is a very significant transaction for Permanent TSB bank and is an important strategic step for the bank as deposits are critical for all Irish banks going forward,” David Guinane, chief executive of Permanent TSB, said today.…

The Mount Wolseley exits examinership; 175 jobs securedIan Lawlor, examiner to The Mount Wolseley Over 170 jobs have been safeguarded at The Mount Wolseley Hotel in Carlow further to an investment package worth €7.5m being made by Brehon Capital as the hotel successfully exits examinership. This is the first successful provincial hotel examinership in the country, showing hotels can successfully restructure their operations within a three-month time frame under the protection of the court, according to examiner Ian Lawlor, the managing partner at JPA Brenson Lawlor accountants. He said that this is an “extremely valuable alternative” to a receivership process that can often take some years to conclude and probably…

€35m investment for Irish dairy sector innovation The Irish Government has announced a new €35m investment in two innovation initiatives for the Irish dairy sector. The two projects are an Enterprise Ireland-funded €25m Dairy Processing Technology Centre (DPTC), hosted by the University of Limerick. The second is a €10m investment by Teagasc and dairy industry shareholders in the expansion of the Moorepark Technology Ltd (MTL) pilot plant facility in Fermoy, Co Cork. The investment by the Irish Government and the Irish industry is designed to position Ireland as a world leader in dairy innovation. It will also greatly help to maximise the long term growth opportunities created by anticipated increase…

Bord Bia , in partnership with Google Ireland, has today launched the Digital Food Hub, a new training programme aimed at helping Irish food businesses to maximize their online presence and sales. Following an application process, 21 Irish food companies have been selected to participate in the inaugural seven month programme, which will include workshops, training modules and one-to-one mentoring delivered by Google digital experts at its European headquarters in Dublin. The companies, representing dairy, meat, confectionary and chilled food sectors, range from large multinational players such as Kerry Foods and Cuisine de France to new businesses like The Little Milk Company and Elivar.According to Bord Bia’s Tomorrow’s Shopper 94pc of shoppers…

Aer Lingus Regional launches new Dublin-East Midlands route Aer Lingus Regional, operated by Stobart Air, has announced the addition of East Midlands Airport to its Dublin route network with twice daily flights due to begin on 5 February 2015. The airline expects to carry up to 70,000 customers annually on the new route and will operate all services on the company’s brand new fleet of regional aircraft. All flights to and from East Midlands will operate from the Aer Lingus hub at Dublin Airport’s Terminal 2. The addition of East Midlands to the airline’s route network follows the ongoing success of the franchise agreement between Stobart Air and Aer Lingus , which saw a…

Aer Lingus Regional to operate new route from Dublin to Robin Hood AirportPictured: Steve Gill, managing director, Robin Hood Airport Doncaster Sheffield Airport and with Ciara O’Connor, senior cabin crew, Aer Lingus Aer Lingus Regional will run a new service between Dublin Airport and Robin Hood Airport Doncaster Sheffield from 29 May. The airline, which Stobart Air operates, will now serve 14 UK destinations from Ireland. The new route will operate five times a week. “Along with direct traffic to Dublin, we will also target the transatlantic market from Doncaster,” said Peter O’Mara, business development director, Stobart Air. “Passengers can travel to Dublin and seamlessly connect to Aer Lingus’ mainline services to the US and Canada.…

Irish renewable energy group Gaelectric has announced the acquisition of biomass energy solutions provider Imperative Energy Ltd for an undisclosed sum.