Suits you, Sir. Naughton to be knighted?

Martin Naughton

Martin Naughton, the Dundalk-born president of Glen Dimplex, is likely to be knighted by Queen Elizabeth II of England as a reward for his philantrophy, entrepreneurship and work to help bring peace to the North.

That’s according to a report in yesterday’s Sunday Business Post which speculates that the former De La Salle student could join a small group of Irish businessmen, including Michael Smurfit and Tony O’Reilly, to receive a knighthood.

Naughton built up Glen Dimplex from employing ten people in 1973 to one of the world’s major manufacturers of domestic appliances, with operations in Dunleer and Newry.

It is Ireland’s largest privately-owned manufacturing business, employing 10,000 people worldwide in 22 manufacturing facilities, with a turnover in excess of €1.5 billion.

Its brands include Morphy Richards, Dimplex Stoves and Belling.

Naughton now lives in Stackallen, Co Meath and has an estimated fortune of more than €2 billion.

Market House Campus Project opens in Dunleer

Martin Naughton speaking at the opening of the Market House Campus Project in Dunleer today

Glen Dimplex founder Martin Naughton officially opened the Market House Campus Project in Dunleer.

The new community centre will benefit a number of individuals, groups and businesses in the area with a number of local politicians attending the opening including Louth TD Peter Fitzpatrick and Senator Mary Moran.

Also in attendance with local councillor Pearse McGeough was Sinn Féin president Gerry Adams, who commended all those who got the project off the ground.

He said: “I want to congratulate the Dunleer Community Development Board for its extraordinary dedication and vision in successfully renovating Market House.

“This is a tremendous addition to Dunleer and will provide a first class resource for individuals, community groups, artists, educationalists and business.

“I also want to commend all of those involved in supporting the project financially, including Louth County Council, the Louth Leader Partnership and Glen Dimplex.

“The Market House project is an excellent example of what is possible when communities work in partnership with local stakeholders to provide a much needed resource and jobs.”

 

IDA Ireland launch Connect and Invest – Dundalk

IDA Ireland yesterday launched ‘Connect and Invest – Dundalk’, the sixth phase of its digital marketing initiative for attracting inward investment by highlighting the specific attributes of individual regional urban centres.

‘Connect and Invest – Dundalk’ is an interactive experience designed for use on tablet, smartphone and PC.  Information on location, education, lifestyle and existing IDA and indigenous companies is provided through rich images, video and text and will be continuously updated.  The website allows IDA executives to showcase Dundalk in face-to-face client meetings.

Dundalk and the North East Region have a strong cluster of international business services, including eBay, Coca-Cola, National Pen, International Fund Services and Liberty Mutual. It also has a wide range of companies in the manufacturing sector including Cargotec, Becton Dickinson, CG Power Systems, Wellman, Bose Abbot and Heinz.  These international brands are an attraction for additional companies to potentially locate to the North East.

The North East also has a vibrant cluster of indigenous companies including Hilton Foods, HJ Heinz, Glanbia, Irish Cement and Glen Dimplex in Louth, Rye Valley Foods, Monaghan Mushrooms, Silver Hill Foods Ltd and McArees Engineering Works in Monaghan and Carton Bros Ltd, Liffey Meats, Abbott Laboratories and Quinn Packaging Ltd in Cavan.

Commenting on the launch Breda O’Toole, Regional Business Development Manager, IDA Ireland said  “Connect and Invest – Dundalk’ is an innovative digital marketing application that showcases the North East at its best.

“The excellent infrastructure and close proximity to Dublin, coupled with the brand names in the International Business Services, Engineering & ICT and indigenous industries, provides the North East with a strong value proposition for clients.  This new marketing tool will greatly assist us in conveying to clients all that the region has to offer. IDA looks forward to continuing to work closely with its partners in the region to promote the location as an attractive place for inward investment and job creation opportunities.”

Three of Ireland’s richest people are from Dundalk

Martin Naughton is Ireland’s fifth richest man according to The Sunday Times

Three men from Dundalk are amongst the 10 richest people in Ireland, according to the latest Sunday Times Rich List which was published last weekend.

The publication found that Glen Dimplex founder Martin Naughton was the fifth richest man in the country, with an estimated fortune of €1.724 billion.

The former De La Salle student also has a luxury apartment on board The World, an exclusive residential cruise ship.

Next in the list in sixth place is Lord Ballyedmond and family, who have an estimated fortune of €1.687 billion. Lord Ballyedmond, also known as Edward Haughey, died in a helicopter crash having built up a fortune from his Newry-based pharmaceutical business, Norbrook.

He was buried in his native Kilcurry following his death with his wealth being left to his wife Mary and children.

Naughton and Haughey made the second biggest rises in terms of wealth in the year, just behind Hilary Weston and family.

Not far behind in eighth place is Pearse Lyons, owner of the Kentucky-based Alltech. The former Harp Lager brewer has an estimated fortune of €1,145 billion.

Not far behind them in 15^th place is Larry and Kitty Goodman and family, owners of AIBP Meats in Ardee. They have an estimated fortune of €612m.

The McCann brothers, David and Carl, of Fyffes and Total Produce, were joint 98^th on the list with a fortune of €108m.

Boylesports owner John Boyle was also 201^st on the list with a €57 million fortune.

Meanwhile, John Doyle of Oxigen Environmental and Mark Goodman, son of Larry and Kitty Goodman, who owns MGI Marketing both have estimated fortunes of €2m each which was enough to secure them 17^th place in the Ireland’s young rich list for those 30 and under.

Naughton to be honoured at Ireland Day in London

Martin Naughton

Local businessman Martin Naughton is set to be honoured at Ireland Day in London next month.

The Glen Dimplex founder, a former student in De La Salle College, will be honoured for his ‘Outstanding Contribution to British Irish Relations’ at the London Stock Exchange on Thursday April 10^th.

A range of speakers have been lined up on the day including Gary McGann, CEO of Smurfit Kappa, Patrick Coveney, CEO of Greencore and Julie Sinnamon, CEO of Enterprise Ireland.

For further details visit www.irelandinc.com

Dundalk-born Lyons is Ireland’s fifth richest man

Pearse Lyons grew his fortune by €200m in the last year

Dundalk-born Pearse Lyons is Ireland’s fifth richest man, according to the Sunday’s Independent’s Irish Rich List 2014 publication, which was released at the weekend.

The newspaper estimates that the former Pearse Park resident has a fortune of €1.8bn, having grown his wealth by €200m in the last year.

Lyons is known for his animal healthcare business Alltech, which has a base in Co Meath. Having first made a breakthrough working for Harp Lager in Dundalk, the 69-year-old has also returned to his roots with a brewing business in Kentucky and Carlow that has produced the likes of Kentucky Bourbon Ale and Stout.

Lyons’ ever-growing empire means he now stands behind only industrialist Pallonji Mistry and family, Brown Thomas owner Hilary Weston, telecoms boss Denis O’Brien and financier John P Grayken in Ireland’s Rich List.

He was also the fifth biggest riser in terms of wealth in the last year, showing he is going from strength to strength at present.

Martin Naughton remains in the top 10

Close behind Mr Lyons is Glen Dimplex owner, Martin Naughton, who came in in eighth place with an estimated fortune of €1.3bn – up €20m in the last year.

The former De La Salle College student has operations in Dunleer and Newry, while other assets include large portions of the IFSC and the Merrion Hotel.

In 21^st place is beef baron Larry Goodman, who has an estimated fortune of €650m. This figure has dropped by €20m in the last 12 months according to the Rich List though as the Stabannon man has not gone unaffected by the horse meat crisis that rocked the industry last year.

Another local in the top 100 is animal pharmaceuticals boss Edward Haughey. The former Coláiste Rís student has an estimated fortune of €430m – up €10m n the last 12 months and is now regarded as Northern Ireland’s richest man.

Haughey, also known as Lord Ballyedmond, is the driving force behind Newry-based Norbrook labs, one of the country’s most successful animal healthcare and pharmaceutical companies.

The Moore family, whose father George hailed from Dundalk prior to his passing last year, are in 52^nd place with an estimated fortune of €210m.

George Moore made his money from cloud computing and data capturing but the wealth he left behind has fallen by €30m in the last year. He is survived by his wife Angela and three children, all of whom are based in the US.

Meanwhile, the Superquinn brand may be gone but Feargal Quinn – who started the business in Dundalk in the 1960s, can still claim to have a €160m fortune, which is enough for 70^th place on the list.

Despite the food market being a difficult and competitive place to be at present, his fortune is estimated to have rose by €9m in the last year.

Just outside the top 100 in 127^th place is the McCann family, who between their involvement with Fyffes and Total Produce are worth €82 million – up €17 million on a year ago.

Colm Piercy of Digiweb

Meanwhile, Colm Piercy of Dundalk-based Digiweb is in 160^th place, with an estimated fortune of €70m – up €25m in the last year.

Louth businessman Phelim McCloskey, who is behind the Mosney park which is now used as a refugee asylum centre, is a new entry in the list at 236^th place with an estimated fortune of €45m.

Over the last 10 years, Mosney has received over €101m from the Department of Justice.

Close behind in 239^th place is Boylesports owner John Boyle. Boyle has an estimated fortune of €45m, which is up €4m on last year as the company’s 192 betting shops continue to grow.

Meanwhile, Paul Ward of the IMC cinema group, which has a cinema in Dundalk at Carroll Village, has an estimated fortune of €41m, down €1m on last year. That was enough to earn him the title of Ireland’s 254^th richest man.

Ray Coyle, a former St Mary’s College student, also makes the top 300 in 263th place for his success with Largo Foods, which produce Tayto, Sam Spudz and Hunky Dory crisps.

He has an estimated wealth of €37m, up €3m in the last year.

Finally, John Teeling and family, the former owners of Cooley Distillery who will shortly open a new distillery at the former Great Northern Brewery in Dundalk, is 295^th on the list with an estimated fortune of €25m, down €1m in the last year.

Caroline Donohoe photo helps Behal scoop major prize

A heartbreaking photograph capturing the anguish felt by Caroline Donohoe as she followed the coffin of her murdered husband Detective Garda Adrian Donohoe on his final journey has won its photographer a major award

Julien Behal collected the AIB Photojournalist of the Year 2014 award at a ceremony in the RDS on Friday.

His snap taken at the State funeral, which saw thousands of gardaí line the streets of Dundalk was highlighted as one of the best pieces in a fine collection of work from last year.

Behal, who works with Maxwell Photography and is a frequent contributor to the the likes of The Irish Independent, also won first prize in the politics category for his image of Taoiseach Enda Kenny, entitled ‘Out of the frying pan…?’, which was captured at the Glen Dimplex factory in Dunleer.

Glen Dimplex to invest €40m in new Dunleer-based R&D facility

An Taoiseach Enda Kenny at the opening of Glen Dimplex R&D Centre in Dunleer this morning

Taoiseach Enda Kenny was in Dunleer earlier as Glen Dimplex announced a new €40 million investment in a new research and development facility.

The new facility, the second of its kind established by Glen Dimplex in the last three years in the area, will be located in a former manufacturing facility where operations ceased in 2008.

The new facility is focusing on what the company calls “smart electric heating technologies of the future”, with around 25 to 75 jobs set to be created by it in the coming year.

Source: Glen Dimplex to create 25 jobs in Louth (The Irish Times)

Taoiseach and Education Minister expected to visit the area today

Enda Kenny will be in the area today

Taoiseach Enda Kenny and Education Minister Ruairí Quinn will both visit the area today.

While the exact details of their visits have been kept quiet due to fears of protests, it is expected that the Taoiseach will visit Glen Dimplex in Dunleer and possibly Dundalk Garda Station.

Meanwhile, Minister Quinn is expected to visit a number of local schools including O Fiaich College, St Joseph’s NS, St Brigid’s and Dundalk Grammar.

Naughton makes Forbes Rich List with $2 billion fortune

Martin Naughton

Dundalk born Martin Naughton is the 736^th richest man in the world, according to the latest Forbes Rich List.

The Glen Dimplex founder has an estimated fortune of $2 billion, making him the third richest Irishman in the list after Pallonji Mistri (103) and Denis O’Brien (233).

Financier Dermot Desmond (831) is the only other Irishman in the top 1,000.

A former student of the De La Salle, Naughton founded Glen Electric 40 years ago this November and still operates the business in Dunleer, as well as Newry.