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Quinn Group names packaging and glass its Q1 star performers

Post Time:Apr 17,2009Classify:Company NewsView:465

Quinn Group has revealed that packaging and glass sales "exceeded budget" in the first quarter of 2009 as higher-than-expected exports bolstered the group.

In a trading update, the Northern Ireland-based group, which is at the centre of a legal case over planning permission at its Quinn Glass facility in Elton, Cheshire, indicated that its packaging business was its star performer amid group trading levels that were down overall.

Quinn Group's other businesses include healthcare insurance, cement - where sales were down 40% - hotels, property and plastics for the construction and medical markets.

In its packaging division, Quinn said that it had secured a "major contract" for meat trays with a retail meat packer that supplies Tesco in the UK and Ireland, but gave no further details. In the statement, the company added: "Further new contracts are expected to be confirmed with a large-scale poultry packer in the very near future."

It also said that it was benefiting from an increased demand for recycled polyester thin-gauge sheeting as a result of the increased demand for environmentally-friendly packaging.

In its Quinn Glass division, the group also highlighted its environmental efforts, especially its involvement in Wrap's GlassRite Wine initiative which aims to reduce the carbon footprint of wine imports to the UK.

However, there was no mention of the High Court legal proceedings, which completed last week, over planning permission for the Elton plant.

Overall, Quinn Group said it was "comfortable" that if trading continued at the current rate, it would post cash profits of €400m-€500m in 2009.

Quinn Group is based in Derrylin, Co. Fermanagh in Northern Ireland and, according to its website, now employs more than 8,000 staff across Europe.

Source: packagingnews.co.ukAuthor: shangyi

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