Shares in Irish engineering services group Mincon fell nearly 2% on the back of the company's first-half earnings and revenues missing analyst targets.

Shares in Mincon, the Shannon-based supplier to the mining and oil industries, rose 3.5% after it hailed “excellent” 2018 earnings

“You have got to put a product together for people to buy. Maybe last year we didn’t put together a great product. Whereas, this year we feel we have a reasonable product to sell and the customers are coming to buy.”

Shannon-based engineering and mining services group Mincon has acquired Swedish company Viqing Drilling Equipment for nearly €8m and is continuing to look for more acquisition opportunities.

It’s rarely been known to work. Certainly not in elite Gaelic games.

Shannon-based engineering services firm Mincon is still actively looking for acquisitions, saying it can act without upping its debt levels.

Commercialisation of the potentially lucrative Spanish mineral mine being developed by Co Meath-based prospecting firm, Ormonde Mining, is likely to be delayed until next year.

The Shannon-based engineer Mincon Group that provides rock drilling goods yesterday said the downturn of the mining industry amid the world commodities price slump had hit profits and that the outlook “remains challenging”.

Shannon-based engineering services firm Mincon has acquired one of Europe’s leading tungsten carbide manufacturers in a deal which will add almost €5m to its annual revenue.

Shannon-based mining equipment firm Mincon yesterday acquired the minority interest in Mincon Rockdrills USA for $2.42m (€1.97m). The transaction, when complete, will make the US firm a wholly owned subsidiary of Mincon.

Full-year earnings at Shannon-based engineering services firm, Mincon, are expected to drop by over 20%, with revenues dipping by over 10% in 2014 before recent acquisitions start contributing to its bottom line next year.

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Irish engineering company Mincon yesterday blamed a weakening of the global exploration and mining market and the devaluation of key currencies for a poor first half of the year during which revenues and profit fell significantly.

The number of trades dealt on the Irish Stock Exchange (ISE) stood at 2.2m for the first half of 2014 – an increase of 32% on the same period in 2013, according to new ISE statistics published today.

Shannon-based engineering services firm Mincon is expected to complete at least one acquisition before the end of this year.

Mincon, a Shannon-based industrial drillbit manufacturer, has reported an 18% increase in operating profits, despite being hit by currency fluctuations and a decision by the board to give staff a €1m bonus.

The Irish exchange is back in the big time, with the US also booming again, writes Kyran Fitzgerald.

Employees of Shannon-based engineering equipment maker Mincon are set to be awarded around €1,000 per year of service as part of a €1.2m employee recognition payment plan.

So there is life in the old dog yet. After a long and extended period, during which the end of the Irish Stock Exchange (ISE) was being heralded by some, a fresh wave of companies and equity issuance suggests something different is afoot.

The Irish Stock Exchange has today welcomed Mincon Group to the exchange’s Enterprise Securities Market.

Shannon-based engineering services firm Mincon is due to float in both Dublin and London, later this month, in a €50m fundraising move aimed at aggressively growing the firm through acquisition inside the next two years.

A family-owned engineering firm in Shannon has reaped the dividend of designing and producing the drill that led to the survival of 33 Chilean miners two years ago.

THE Shannon engineering company that made the drill head used to rescue the 33 Chilean miners last week has been winning new business due to the publicity its equipment received internationally.

TAOISEACH Brian Cowen has written to the President of Chile to congratulate all those involved in the successful rescue of the miners.

Taoiseach Brian Cowen has written to the President of Chile Sebastian Pinera describing the rescue of 33 miners trapped underground for 68 days as "extraordinary and inspirational".

A SHANNON-BASED engineering company played a key role in the rescue of the miners from the Chilean mine yesterday.

WHAT uplifting joy it is to wake to good news.

As the Chilean miners are rescued one by one, staff at a Co Clare company have been celebrating the success of the mission and the part they have played in the rescue effort.