TCH sells Acadamy St premises

Media Group, Thomas Crosbie Holdings Limited (TCH), has sold its premises at Academy St, Cork to O’Callaghan Properties and acquired a new 3.5 acre site in Mahon as part of the deal.

The group has decided to outsource its printing function to Webprint Concepts Limited, a private company, which will lease, develop and operate an independent printing business at the Mahon site by late 2005.

Under the deal, all bar one of TCH’s 14 titles will be printed by Webprint Concepts Limited in Mahon. The exception is the Irish Post, the group’s UK title.

TCH will retain possession of the Academy St premises until the end of 2006 and is considering its options regarding the relocation of its non-printing operations.

These include moving to its site at Half Moon Street and Lavitt’s Quay where the Group has planning permission for a six storey office development.

Thomas Crosbie Holdings currently has two printing operations in Ireland, at Ballina and Academy Street, Cork.

The Sunday Business Post has until now been printed under contract at the Belfast Telegraph. More than 80 people are employed as part of the group’s printing division.

Webprint Concepts Limited has been established by Mr Donogh O’Doherty, currently managing director of Independent News & Media’s Regional Newspapers Division.

The company will lease the site from Thomas Crosbie Holdings where they will custom build a state-of-the-art printing facility and operate a contract printing business with TCH as an anchor client. It is anticipated that the new company will employ 50 people.

TCH will enter into discussions with the trade unions on matters relating to the decision to restructure its printing function.

TCH employees who do not transfer to Webprint Concepts Limited will be offered redundancy packages.