Mincon staff to share €1.2m bonanza

Employees of Shannon-based engineering equipment maker Mincon are set to be awarded around €1,000 per year of service as part of a €1.2m employee recognition payment plan.

The one-off bonus scheme will benefit approximately 140 employees, excluding senior management, and will be distributed from the private funds of Mincon’s two largest shareholders (prior to the firm’s recent flotation) CEO Kevin Barry and founder Paddy Purcell as a demonstration of appreciation to staff.

“It is a testament to the hard work and dedication of the Mincon Group employees that it has grown from its origins in Shannon into the international business it is today, with operations in Europe, Africa, the Americas and Australasia and with its securities quoted on the ESM and AIM,” said Mr Purcell who, with his wife, Mary, founded the business in 1977.

“As the largest shareholders in the company, Kevin and I wished to take this opportunity to show, in a tangible and meaningful way, our appreciation to the staff for their contribution in bringing Mincon to where it is today and positioning it for the next phase of its development organically and through acquisitions.”

“This is a thoughtful and generous inclusion of the staff by Mr Purcell and Mr Barry and reflective of their consideration for the well-being of the business, generally, and the employees in particular,” said Mincon chairman Peter Lynch, who said the board also plans to consider the inclusion of the employees in the share ownership of the business.