Displaying items by tag: Mannok

UK: Mannok recorded sales of Euro270m in 2021, up by 16% year-on-year from Euro233m in 2020. The company’s earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 17% to Euro25.8m from Euro31.1m. The group attributed this to substantial cost absorption beginning in mid-2021. Energy prices rose by 66% year-on-year, while the cost of carbon emissions trading scheme (ETS) credits more than doubled to Euro80/t at the end of the year.

Mannok said that demand for its products remains resilient, supported by stronger cost recovery. It added that a levelling out in energy prices has driven stronger profitability in the first quarter and April of 2022.

UK: Paul Brogan has started his two-year tenure as the chair of Mineral Products Association Northern Ireland (MPANI). He is the managing director of McQuillan Companies and has worked for the company for over 25 years. Paddy Mohan, the cement sales director of Mannok, will work as vice chair. MPANI is an industry body which represents the mineral products industry in Northern Ireland.

UK/Ireland: Mannok has launched a comprehensive biodiversity report, the Natural Assets Action Plan, in partnership with the conservationist group Ulster Wildlife. The report examines the entirety of the company’s landholdings, which span 800ha on both sides of the EU/UK border. Habitats include grasslands, wetlands, woodlands, ponds and quarries. The report will provide a roadmap for the conservation, restoration and enhancement of each area of land to help Mannok to meet its sustainability targets. Key aims include increasing biodiversity awareness among Mannok staff, customers and local communities, improving biodiversity monitoring, maximising carbon absorption in soil and vegetation, rewilding the natural landscape and ensuring resilience to predicted climate change effects.

Chief executive officer Liam McCaffrey said “This report informs our understanding of the value of natural assets to the business and wider community and will help guide our long-term planning and strategic investment decisions in a way which aims to maintain and enhance those assets. Already it has started to change our perspectives of what was previously considered wasteland. Now, we can see opportunities for careful and considered restoration into valuable natural assets for the future. Additionally, the work involved in creating the plan has allowed us to focus on the whole area of carbon mitigation in ways which we would not have considered before. The way in which we are looking at carbon reduction through careful management of our land is a relatively novel concept in industry, but we now recognise it as a critical tool in the fight against climate change.”

He added “The report is full of very valuable recommendations on what we can practically do over the next three - five years and beyond to continue enhancing and restoring our land assets, and we are very much committed to delivering on this. We will commit resources, time, people and finances to develop the recommendations.”

UK: Mannok has commissioned a Euro2.1m bagging system supplied by Germany-based Haver & Boecker. The order included a Roto-Packer Adams 10 spout bag filling system and a new automatic film reel changer, designed to run at 1200 bags/hr. Installation took place in the second quarter of 2021 and the new bagging unit is now in production. The upgrade now gives Mannok the capacity to pack around 50t/hr of cement in weatherproof bags.

Chief executive officer Liam McCaffrey said, “This is a major investment in our Cement operations which completes the second phase of our investment in our weatherproof bagging line, upgrading it from a single to a double bagging line with a significant increase in output capacity. Our initial investment to bring our weatherproof polyethylene bags to the market was in response to demand from Great Britain-based merchants and we later introduced the bags to the Irish market, where the response was equally positive.”

The cement producer operates an integrated plant at Derrylin, Fermanagh in Northern Ireland. It previously installed a weatherproof bagging line in 2018 that allows it to extend its range of bagged cements.

Ireland/UK: Mannok says that it has undertaken extensive preparatory measures to help its operations continue smoothly when the Brexit transition period ends on 31 December 2020. While keeping operations unchanged, the group has formed new legal entities such as Mannok GB, which will deal with UK customers. The group acknowledged that prices would depend on the future tariff arrangement between the UK and the EU, but would remain in line with market pricing. It added that the same effects would impacts competitors, who import significant amounts of raw materials from Europe.

The group said that it has been working closely with suppliers for over 18 months to ensure the security of its supply chains. It sources almost all raw materials for cement production from its own reserves.

Chief financial officer Dara O’Reilly said, “A key priority for us in all of this was to ensure that the service we can provide to our customers in a post-Brexit environment is as seamless as possible. We’ve made the changes to our structures; we’ve made the changes to how we operate and as a result of that, regardless of the outcome of the Brexit negotiations, we’re ready.”

UK: Quinn Industrial Holdings has announced an upcoming rebranding, to take place in October 2020, to Mannok. The new branding will extend to its subsidiaries Quinn Building Products and Quinn Packaging, as well as to its Quinn brand cement. Chief executive officer (CEO) Liam McCaffrey said that the group’s 2019 results, the strongest since its acquisition from Seán Quinn in 2014, signalled the time for the change. The new name derives from the Gaelic name for Fermanagh, the UK county in which Quinn Industrial Holdings is based.

McCaffrey said, “We are extremely pleased to unveil Mannok as our new brand identity, which we believe better reflects the ownership, evolution and future focus of our business. It marks a major milestone for us following a five-year transformation programme that has empowered our staff and repositioned our businesses for continuing growth and innovation.” He added, “2019 marked our fifth successive year of earnings growth and a robust performance given Brexit uncertainty. Our targeted investment of recent years has established strong foundations for continuing growth across Ireland and the UK.”