Mincon engineering reports strong growth despite volatile currency markets

Shannon-based engineering services firm, Mincon has reported a strong third quarter despite the ongoing downturn in the mining industry.

The company, which makes industrial drilling tools, yesterday said revenues for the third quarter amounted to €19.3m, up by 4% compared to the preceding quarter but ahead by 43% when measured on a year-on-year basis.

The company said that, while volatile currency markets still remain a concern, new product development is continuing and the business is increasing market share and growing into new markets.