Lake Region being sold

larrymiller

http://www.lakeregionmedical.com/downloads/Press_Acquisition_Announcement_020314.pdf

Lake region has today announced that it has been sold! Accelent is the company, they are still going to trade under the lake region name!
Hope this won't lead to job loses as they are nearly 800 people working there.

vicwatson

Sold for in excess of €1,000,000,000.00 :eek:

larrymiller

Yup some money ain't it. But it's a very profitable factory so why not I Suppose

Leo Demidov

Profitable company, several factories. Hopefully this news means more jobs and not less. In any event, New Ross needs to secure another big employer as factories like this have a limited lifespan and they will ultimately up sticks and move.

larrymiller

wexfjord wrote: »

Profitable company, several factories. Hopefully this news means more jobs and not less. In any event, New Ross needs to secure another big employer as factories like this have a limited lifespan and they will ultimately up sticks and move.

Well they have been here since the 1990's so I wouldn't be so sure, the place has seen a lot of investment over years and bought the old fish factory and have planning permission for a large extension!
But yeah hopefully more jobs coming up, look at the new Ross standard today

Dilbert75

vicwatson wrote: »

Sold for in excess of €1,000,000,000.00 :eek:

In actual fact it was substantially less than that. Not like the press to make up a number in the absence of accurate information (btw this was the figure quoted on WSJ, not originally from local papers).

larrymiller

Dilbert75 wrote: »

In actual fact it was substantially less than that. Not like the press to make up a number in the absence of accurate information (btw this was the figure quoted on WSJ, not originally from local papers).

Yep $390 million with $75 million of this being infested by the original owners! Good to see that they are keeping a stake