Former Quinn group sees profits decline by 57%

Operating profits at the former Quinn manufacturing group last year declined by 57% to €18.6m.

The group, now known as the Aventas Manufacturing Group Holdco Ltd, is made up of four core businesses —container glass, construction industry supplies, plastics & packaging and radiators.

Aventas is 75% owned by its former creditors, mainly banks and hedge funds, with the remainder held by its principal former lender, the Irish Bank Resolution Corporation in liquidation.