Business

Ardagh Group has announced that it has received US regulatory approval and completed the acquisition of the US-based Anchor Glass Container Corporation from private investment funds managed by Wayzata Investment Partners LLC. The transaction involved a total cash consideration of US$880m (€721m). Anchor, which is headquartered in Tampa, Florida, is a technologically advanced manufacturer of glass containers serving the North American food and beverage industries. It is the third largest glass container manufacturer in the US, producing approximately 5.6 billion containers annually from its eight facilities and employing approximately 2,700 people. Anchor has annual revenues of around US$800m (€656m). Ardagh Group is a global leader in rigid packaging, producing metal…

As part of its 2011 global restructuring plan, Boston Scientific is cutting 50 jobs from its Galway operations. The medical device company employs 2,500 at the Galway facility, which is the largest of its three sites Ireland. In a statement Boston Scientific said that the cuts were made to align its workforce and operations with the company’s global initiative to operate more cost effectively. “Boston Scientific will offer affected Galway employees a comprehensive support programme. Boston Scientific remains committed to supporting its employees through this transition,” it added. Last year the company announced it was seeking to cut up 1,400 jobs worldwide in a restructuring programme aimed at saving between…

Ryanair has announced five new routes from Cork to Gdansk, Krakow, Warsaw, Wroclaw and Vilnius, which will operate from November 2012. The airline said its winter 2012 schedule from Cork Airport now increases to two based aircraft and 10 routes, which will deliver over 850,000 passengers each year. It said that this would sustain over 800 on-site jobs at the airport, based on ASI figures estimating that 1 million passengers maintain 1,000 jobs. Flights for the five new routes go on sale on Ryanair’s website from tomorrow and the airline said it is offering special prices until midnight on Monday (6 August). Grainne Rothery

Tax revenues for the first seven months of the year were €20,313m, €500m (2.5pc) ahead of target, according to the latest Exchequer return figures. At the end of July taxes were €1.68bn (9pc) ahead of the same period last year. Adjusting for the impact of delayed corporation tax receipts from December 2011 and a reclassification of PRSI to income tax this year, taxes grew by around 6.5pc in the year to end-July. Income tax was €159m (2.0pc) ahead cumulatively and is over 11pc up on the same period last year on an adjusted basis. VAT receipts in the month of July were €58m (4.3pc) ahead of target and €87m (1.3pc)…

Finance staff continued to be in demand among both Irish organisations and multinationals in the second quarter, according to the latest update from recruitment firm Robert Walters. Most hires were on a contract basis, but there was a general increase in demand for permanent financial analysts and finance business partners at the two to four PQE level. There was a strong demand for supply chain and procurement professionals with specialist multinational project management and systems expertise, particularly in the life sciences sector, as well as in larger food and beverages organisations. The update shows that sales and marketing recruitment activity remained buoyant throughout quarter two, both in the financial services…

Shannon Airport has announced that Quintessentially Aviation, the aviation wing of the luxury lifestyle group Quintessentially, is to develop its first Irish VIP lounge at Shannon Airport. Contracts for the investment were signed last week at the second annual ‘Irish Business Aviation Convention’ hosted jointly by Shannon Airport and Shannon Development at Dromoland Castle Hotel. Quintessentially will use the service as its flagship for corporate jet traffic operated from Al Bateen Airport in Abu Dhabi, which is the Middle East region’s only dedicated private jet airport. The investment by Quintessentially Aviation will result in Shannon Airport being heavily marketed for its US pre-clearance facility into this area of the Middle East, which will…

Enterprise cloud computing company Salesforce.com is hiring an additional 100 staff in Dublin to meet the demands of continued growth in Ireland. Salesforce.com first established operations in Dublin in 2000 and IDA Ireland has been working with it since on its developments in Ireland. It currently employs over 400 people here. The company is immediately looking to take on qualified professionals in sales, marketing, IT and customer support functions. “Salesforce.com is driving a massive transformation in the technology industry, showing companies the power of social and mobile cloud computing. Ireland has played a key role in our success and we are delighted to be able to expand our reach in…

Cyprus has applied for a bailout following its exposure to the Greek economy, the country’s government announced in a statement this evening. It is the fourth eurozone country to seek financial assistance from its European partners. “The purpose of the required assistance is to contain the risks to the Cypriot economy, notably those arising from the negative spill over effects through its financial sector, due to its large exposure in the Greek economy,” said the statement. Earlier today ratings firm Fitch downgraded Cyprus’s sovereign credit rating to junk territory. Fitch said the move was “principally due to Greek corporate and households exposures of the largest three banks – Bank of…

Discount retailer Dealz has opened its 13th store, in Shannon, Co Clare, creating 30 new jobs. Located, at unit 40A, Skycourt Shopping Centre, Shannon, with a retail space of 6,900 sq ft, Dealz Shannon is the newest edition to the Dealz portfolio. The new store brings the total number of jobs created in Ireland to date to over 390. An integrated part of Poundland, Europe’s biggest single price discount retailer, Dealz has additional stores across the Republic of Ireland including Blanchardstown, Portlaoise, Letterkenny, Killarney, Newbridge, Limerick, Cork, Athlone, Santry, Mullingar, Gorey and Drogheda, which are overseen by Cork native Leonard Brassel, Dealz senior business manager in Ireland. Commenting at the new…

Subscribe-and-drive service GoCar has today announced the opening of new GoBases in Drury Street car park and Schoolhouse Lane car park in Dublin 2 and Kent Station in Cork City, with a further five Dublin GoBases opening over the coming weeks. This expansion follows significant investment by the owners in the scheme last month. The additional new locations, which have been supported by local businesses, include Northwood Santry and Mark Street (off Pearse Street) along with Iveagh Court in conjunction with Mc Garrell Reilly; and Ballymun, with the support of Ballymun Regeneration Ltd. GoCar is also expanding its existing Smithfield, Ranelagh and South Lotts Road GoBases in the city. The…