The sales process for Encirc, the former Quinn Glass, has entered its second phase after initial bids have been received for the business. Lazard, an international investment bank, is handling the sale of the business.
A spokesman for the company confirmed yesterday: “Encirc is currently engaged in a sales process which is unlikely to conclude for a number of weeks.”
He declined to comment on the level of interest in the business, which employs 1,000 people at facilities in Derrylin, Co Fermanagh and Cheshire, England.
Encirc has annual revenues of more than 300 million EUR and its plants are considered among the best in Europe.
Existing private equity shareholders in Quinn Glass are believed to be in the running to acquire total control of the glass manufacturing business. External private equity investors are also looking at the company.