Cork Group expands into Drogheda Port

The Mainport Group, headquartered at Monahan Road, Cork, has acquired the long-established ship agency, stevedoring, ship broking and logistics company Patrick Monahan (Drogheda Ltd), positioning itself as a market leader for these services along the east coast of Ireland. With the valuable core business established already by Monahans in Drogheda and the expected massive investment in the nearby Bremore Port, (located south of Drogheda, adjacent to the M1) Mainport is well positioned to maximise these opportunities.

David Ronayne, Chief Executive of The Mainport Group commented: ‘This acquisition confirms Mainport’s position as the leading intermodal logistics shipping company in the country. It gives us a significant presence on the east coast of Ireland and since Monahans services are similar to those conducted by Mainport in Cork and the Shannon estuary, there are considerable synergies and opportunities. Monahans have built a reputable and profitable company since 1948, with an excellent staff, headed up by MD, Willie Lennon. The business will continue to operate as heretofore and we are excited about the prospect of combining our expertise, consolidating the existing business and attracting new business into the area.’

Willie Lennon, MD of Monahans, in welcoming the move, said: ‘The Monahan Family wishes to acknowledge their loyal staff and friends at Drogheda Port, customers and suppliers, and are happy that the new owners will continue the best practices already in situ. The 65 staff at Monahans, which had a turnover of 12 million euro in 2005, see this as a very progressive move for the company, especially in light of the development of the new national port, Bremore Port outside Drogheda. Our existing clients will also welcome this development, secure in the knowledge that The Mainport Group are experienced in this field, having themselves been established in 1957.’

This new acquisition includes 90,000 square feet of office, plant and warehousing facilities in the lower port area of Drogheda at Tom Roe’s Point, with offices in Merchant’s Quay. Cargo currently being handled includes paper and forest products (including newsprint for Ireland’s print media), steel, container shipping, and agri-bulk cargo.

DFDS Lysline (delivering product on behalf of StoraEnso), Baltic Line, Biscay Shipping, Rautaruukki and other large international shippers are currently being handled by the new entity, and to Irish companies such as Coen Steel, Heiton McFerran, Grattan Steel, Midland Steel, Sherlings, Brooks Thomas, McMahons, Irish Cement and many others,’ said Paul Fleming, CEO at Drogheda Port. ‘It was crucial that any new owner would have a proven track record in the business and we welcome Mainport’s arrival in the region. It will give continuity of service to our valued port clients and offer them economies of scale on an all-Ireland basis’.

The Mainport Group, headquartered at Monahan Road, Cork, is Ireland’s leading ship agency, employing 82 people in the ship management, stevedoring, and off-shore services sector in Ireland with offices also in Dublin, Limerick, Foynes, South Africa and Norway.

With a turnover in excess of 45 million euro expected in 2006, the Group is also involved in joint ventures with major shipping and shipping services groups in Norway (with Sartor Shipping), South Africa and other projects in the seismic support, safety-standby, salvage & wreck removal, warehousing and storage sectors.
www.mainport.ie