Quinn Industrial Holdings is to rebrand as Mannok , a move which will also affect the Quinn Building Products and Quinn Packaging brands.
The company issued a statement which said that the rebrand to Mannok marks the culmination of a 5-year transformation and investment programme that has repositioned the business as a provider of increasingly sophisticated and sustainable building and packaging solutions, supporting an increase in sales of over 30% during the period.
Quinn Industrial Holdings’ operating performance for the 12 months ended 31 December 2019 shows another increase in earnings (EBITDA – Earnings Before Interest, Tax Depreciation & Amortisation) to €26.6m, with an investment increase to €11.5m. This marks the fifth successive year of increased earnings and shows a robust performance despite the challenges of Brexit and price decreases in certain markets. A 2.5 per cent dip in turnover from €240m in 2018 to €234m in 2019 reflects lower pricing in line with market trends, with overall volumes comparable to 2018 levels.
2019 saw heavy investment in both Quinn Building Products and Quinn Packaging, totalling €11.5m, which included fleet and mobile plant replenishment, as well as investment in fixed plant augmentation projects expected to yield significant profitability over the years ahead.
The organisation was awarded the Mineral Products Qualifications Council (MPQC) trophy for Behavioural Safety, Safety Culture and Leadership at the 2019 Mineral Products Association (MPA) Awards, whilst Quinn Packaging received a National Pakman Award in recognition of its efforts to boost plastic recycling in Ireland through its breakthrough new product, Detecta by Quinn, the first fully recyclable black plastic packaging, developed by the company to address issues recycling black plastics. Quinn Building Products also won three Supplier of the Year categories at the National Buying Group awards in November 2019.
CEO, Liam McCaffrey, said: “We are extremely pleased to unveil Mannok as our new brand identity, which we believe better reflects the ownership, evolution and future focus of our business. It marks a major milestone for us following a 5-year transformation programme that has empowered our staff and repositioned our businesses for continuing growth and innovation. Our business is now in the strongest position since its acquisition in 2014 and Mannok is an appropriate and much more expansive brand proposition that reflects what our customers value most – a professional one-stop-shop for building and packaging solutions and the support of exceptional staff. They can certainly expect a lot more of that same quality offering we’ve become synonymous with, but “more of the same” does not mean we’ll stand still, as we will continue to focus on developing and innovating with market leading, sustainable solutions.
“Post year end and the emergence of Covid-19, the health and safety of our staff and customers has been our key priority and we have taken extensive measures to mitigate risk and support the national fight against the pandemic. Our staff play a critical role in ensuring business continuity and in the provision of key supplies to essential sectors including food and construction. We are very grateful for and acknowledge our staff support, forbearance and commitment over the difficult lockdown period.”
The name Mannock derives from Fear Manach, the origin of ‘Fermanagh’, reflecting the company’s pride in their roots in the Fermanagh and Cavan region, and their commitment to the people and communities which are the lifeblood of the organisation’s success.