Donaldson Timber Engineering closes Irish operation

Mar 24, 2009. /Lesprom Network/. Scottish timber giant Donaldson Timber Engineering has confirmed that it is pulling out of the Irish market, blaming the "lack of credit available to first-time buyers", as Irish Independent informed Lesprom Network. The Irish Independent reported that fears were mounting for the future of Donaldson's Irish operation, which employed 33 in Laois according to its most recent company filings, after the timber giant advertised a creditors' meeting. At the time, the company declined to comment, saying a statement would be issued shortly. A subsequent statement confirmed the closure of the Irish branch, which includes a 20 thousand square foot plant in Portlaoise, Co Laois. The statement paid tribute to "one of the most efficient and modern custom-built factories in the country". "Without sales, the company could not continue to trade," the statement concluded. The Irish branch was ultimately owned by Scottish group James Donaldson & Sons, which notched up a turnover of GBP 97.4 million ($ 143 million) for the year ending March 2008, up 30% year on year. The firm made profits of GBP 3 million ($4.4 million).