Shannon-based engineering firm Mincon eyes wind farms for additional revenue stream

Shannon-based engineering services group Mincon is eyeing Ireland’s nascent offshore wind farm industry as a potential additional revenue stream.

The company traditionally makes drilling equipment for companies in the mining and construction sectors.

However, it has received a grant from the Government’s Disruptive Technologies Innovation Fund which will finance Mincon’s development of a robotic seabed drilling system along with the installation and testing of marine anchors, using micropile technology.

Mincon said these micropiled anchor foundations will be used for "a wide range of applications" including offshore wind turbines.

In a trading update, covering the first four months of this year, Mincon said its revenues were ahead of the same period last year as production levels and order levels recovered.

"We are experiencing good order levels in most markets with a positive momentum building across the business," the company said.

In March, Mincon reported an 8% increase in revenues for 2020 and a 54% rise in operating profit. 

It said that, following a number of acquisitions last year, it would look to make further company purchases this year.

Mincon’s performance was helped by its equipment being widely used for essential projects and services.