{"id":9257,"date":"2024-08-28T10:57:45","date_gmt":"2024-08-28T10:57:45","guid":{"rendered":"https:\/\/news.godj.com\/news\/fermanagh-building-products-firm-sold-for-e330m\/"},"modified":"2024-08-28T10:57:45","modified_gmt":"2024-08-28T10:57:45","slug":"fermanagh-building-products-firm-sold-for-e330m","status":"publish","type":"post","link":"https:\/\/news.godj.com\/news\/fermanagh-building-products-firm-sold-for-e330m\/","title":{"rendered":"Fermanagh building products firm sold for \u20ac330m"},"content":{"rendered":"


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\"MannokMannok<\/span><\/div>\n<\/div>\n

Mannok currently employs around 800 people<\/figcaption><\/p>\n<\/figure>\n
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Mannok, the County Fermanagh-based building products firm, is being bought by Turkish conglomerate Sabanci Holdings for \u20ac330m (\u00a3278m).<\/p>\n

The local Mannok leadership team will retain a 5.3% shareholding in the business.<\/p>\n

It was formerly a part of the Quinn Group of companies and was acquired in December 2014 by an investor group when Sean Quinn\u2019s business empire crashed into insolvency.<\/a><\/p>\n

In the years since Mr Quinn lost control of the business it has been subject to a campaign of sabotage.<\/p>\n<\/div>\n

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Its directors suffered escalating intimidation and violence which culminated in the kidnap and torture of Kevin Lunney in 2019.<\/a> <\/p>\n

Mr Quinn has repeatedly condemned the violence, including the attack on Mr Lunney, and said he had no involvement in it.<\/p>\n

Sabanci is a global conglomerate which employs over 60,000 people in 14 countries across five continents.<\/p>\n

The deal is being done via its Cimsa division, which specialises in building materials.<\/p>\n

The Mannok brand will be retained as the new owners seek to grow the business.<\/p>\n

The company currently employs around 800 people in the manufacturing of cement and other quarry products, concrete, insulation materials and packaging.<\/p>\n<\/div>\n

‘A new era’<\/h2>\n<\/p>\n
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Umut Zenar, chief executive of Cimsa, said the agreement “marks the beginning of a new era for Mannok”. <\/p>\n

“At Cimsa our model is to back great local businesses and management and we look forward to creating new employment opportunities in the region,” he said.<\/p>\n

Mannok chief executive Dara O\u2019Reilly added: \u201cAt this stage of our development, securing a long term, strategic, well capitalised owner of scale, is the right move for Mannok and we look forward to working with our new colleagues at Sabanci.”<\/p>\n

He thanked the investor group, led by Brigade Capital Management, for their “unstinting and collegiate support as majority owners of the business over the past decade”.<\/p>\n<\/div>\n<\/div>\n


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Mannok Mannok currently employs around 800 people Mannok, the County Fermanagh-based building products firm, is being bought by Turkish conglomerate Sabanci Holdings for \u20ac330m (\u00a3278m). The local Mannok leadership team will retain a 5.3% shareholding in the business. It was formerly a part of the Quinn Group of companies and was acquired in December 2014 […]<\/p>\n","protected":false},"author":1,"featured_media":9258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[4776,630,4775,146,1213,3683],"class_list":["post-9257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-n-ireland","tag-330m","tag-building","tag-fermanagh","tag-firm","tag-products","tag-sold"],"_links":{"self":[{"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/posts\/9257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/comments?post=9257"}],"version-history":[{"count":1,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/posts\/9257\/revisions"}],"predecessor-version":[{"id":9259,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/posts\/9257\/revisions\/9259"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/media\/9258"}],"wp:attachment":[{"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/media?parent=9257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/categories?post=9257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/tags?post=9257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}