Quinn sets up €200m Welsh factory

FERMANAGH businessman Sean Quinn is to splash out almost €200 million to set up a new radiator facility in Wales that will employ 460 people.

The Welsh local administration said yesterday it had sold a disused factory in Newport to the Quinn Group, which will set up a new European headquarters for its radiator division in the south Wales town.

The new base will focus on specialist manufacturing of compact radiators and research and development activity. It will sit on the site of a former LG Philips electronics plant that closed two years ago with the loss of 900 jobs.