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28/08/2007
Fisher Engineering Bought Over: Jobs Retained
A Fermanagh-based steel fabricator company is to be sold to a British firm for £90 million.
North Yorkshire company Severfield-Rown PLC has agreed to buy Fisher Engineering, which is owned by brothers Ernie and Ivan Fisher.
The company has also announced its 250 staff currently employed in Ballinamallard will be retained by the new owners.
Severfield-Rowan is expected to improve Fisher’s revenue and profit performance.
The Fisher’s are expected to be the biggest beneficiaries of the transaction, with a share of £60 million, according to reports from the Irish Times.
The company is viewed as one of the country's leading steel fabricators in Europe. It's projects include Belfast's Castle Court Shopping Centre, the Odyssey Arena and the Waterfront Hall.
The acquisition will cost Severfield-Rowen £23.5 million, including the assumption by the company of a term loan of around £8.6 million, of which £14.9 million will be in cash.
(JM/SP)
North Yorkshire company Severfield-Rown PLC has agreed to buy Fisher Engineering, which is owned by brothers Ernie and Ivan Fisher.
The company has also announced its 250 staff currently employed in Ballinamallard will be retained by the new owners.
Severfield-Rowan is expected to improve Fisher’s revenue and profit performance.
The Fisher’s are expected to be the biggest beneficiaries of the transaction, with a share of £60 million, according to reports from the Irish Times.
The company is viewed as one of the country's leading steel fabricators in Europe. It's projects include Belfast's Castle Court Shopping Centre, the Odyssey Arena and the Waterfront Hall.
The acquisition will cost Severfield-Rowen £23.5 million, including the assumption by the company of a term loan of around £8.6 million, of which £14.9 million will be in cash.
(JM/SP)
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