Pig farmers get €3,000 flat payment

The country’s pig farmers will share €1m as part of a €13.7m European Commission support package for the dairy and pig sectors. The Irish Government matched it with Exchequer funding and paid out €1,350 to every dairy farmer. Pig farmers had been calling for a payment. Each pig farmer who slaughtered at least 200 pigs in 2015 will receive a flat payment of €3,000 “shortly”, according to the Department.

Brexit Ireland’s biggest foreign policy challenge

Speaking at the Irish Grain and Feed Association AGM, Ruud Tijssens of the European Feed Manufacturers Association said a Brexit would also have an impact on the growth and recovery of the Irish economy.

“Despite Irish political independence, it is clear that the UK may still have a considerable impact on Ireland’s economy and role in Europe this year. Shortly we will likely see the Brexit referendum take place, which I’ve seen being called Ireland biggest foreign policy challenge,” he said.

One51 continues acquisition programme

One51 has acquired H&T, a maintenance and cleaning company to the cement and manufacturing sectors in the UK for an undisclosed sum. This move, combined with the acquisition of Greenway last September, continues to re-position its ClearCircle division towards the higher margin and more defensive environmental services sector. With the closure of the metal recycling facility in the UK last summer, One51 has only two metal recycling businesses left – one in Ireland and one in the UK. While it will remain in metals, it will become a much smaller part of the overall group. It is forecast to contribute low single digits to profit in 2016, compared to 2008 when it was contributing around 70% of the group’s EBITDA.

This is the second acquisition in as many weeks for One51. Last week, the group announced that it is to invest €8m in its plastics businesses, expanding its facility in Cork and doubling its manufacturing facility in China in a bid to cater for rising demand from its multinational clients.