Cork-based international engineering group Kentech sharply pared its losses to $2m (€1.88m) last year.

Two directors of the Cork-based Kentech group have secured a two-month stay on execution of judgments for $683,000 (€539,000) against them following disputes about implementation of a settlement agreement to buy another director’s shares for $11m.

The Cork-headquartered Kentech engineering group last year plunged into the red to record pre-tax losses of $7.79m (€5.75m).

A BITTER dispute between some directors and shareholders of the giant Kentech group, which employs 2,800 people in Ireland and worldwide in providing engineering and other services, has come before the Commercial Court.

INTERNATIONAL Cork based engineering group Kentech last year returned to profit after revenues increased by 17% to $137 million (€102.8m).