Dole raises 2025 earnings guidance despite ‘unpredictable' economic environment
Markets
Dole raises 2025 earnings guidance despite 'unpredictable' economic environment
Vish Gain
12:43
The group formed in 2021 through the merger of between a Dublin-based Fyffes spin-out and US-based Dole Food Company.
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Irish Independent
38 minutes ago
- Irish Independent
New cheese plant in Boherbue marks €15m investment in rural Cork
The new plant is owned by Ingredient Solutions Ltd., one of Ireland's leading cheese solution providers, and sits on a 7-acre site in Boherbue, close to the company's existing plant. Founded in 2000, the company now exports to over 40 countries. Around four times larger than the current site and with five production lines, the new plant will enable the company to scale from 12,000 to 27,000 tonnes of produce annually, with future expansion potential to 35,000 tonnes, according to Managing Director Gary Davies. With the company currently employing around 100 people, Davies predicted that number will rise by around 50 workers over the next eight to ten years. 'We've built this facility not just to meet today's needs, but to secure our ability to innovate and grow in the years ahead,' he said. Speaking at the opening, Davies said: 'It's a proud day for our staff, our community, and for Ian Galletly, our founder, whose vision brought Ingredient Solutions to life 25 years ago. This facility is the result of his dream—backed by Rupp, AIB, and Enterprise Ireland—and designed to grow with us into the future.' The ribbon-cutting event was attended by government representatives, industry leaders, and local stakeholders, including John Broekmans, CEO of Rupp (Ingredient Solutions' Austrian-based parent company); Cllr Joe Carroll, Lord Mayor of Cork; Cork North-West TD Michael Moynihan, and Cllr Bernard Moynihan, while Fr. Jim Kennelly blessed the facility. The Rupp CEO highlighted the company's long-term commitment to the locality: 'This factory is more than bricks and stainless steel. It's a promise—to our employees, our customers, and to Boherbue. We are here for the long term. Together, we are building not just cheese, but a future.' Broekmans acknowledged the deep ties between Rupp and Ingredient Solutions since the 2022 acquisition, calling the new facility 'a continuation of the legacy we've built together. This moment represents not just a new chapter for our company, but it's also a renewed commitment to the community that has stood by us for twenty-five years." Cllr Moynihan spoke about the long journey to the opening of the new plant, recalling early planning meetings, community backing, and the essential role of Boherbue Co-Op: 'This factory will export to over 70 countries and generate €100 million in export trade. But more importantly, it's an investment in people—in jobs, in families, and in the future of rural Ireland. Boherbue has always punched above its weight, and today, we take our place on the world stage.' The Kanturk-Mallow Councillor said the recent upgrade to the wastewater treatment plant in Boherbue paved the way to securing the new cheese plant. "The crucial, crucial thing to make this plant happen today was because we had the €9 million-wastewater treatment plant. It's a fantastic investment in Boherbue for housing, for shops, for development, for everything." The upgrade, which was carried out by Uisce Éireann, in partnership with Cork County Council, modernised and improved the performance and capacity of the plant and has improved the quality of treated wastewater discharged into the Brogeen River, a protected conservation area and home to the freshwater pearl mussel. ADVERTISEMENT Learn more Mayor of County Cork, Cllr Joe Carroll, also underlined the importance of the local infrastructure in his words at the opening. "This is a day of celebration not only for Ingredient Solutions but for the entire local community. Cork County Council has been proud to support this development, particularly through our investment in the nine-million-euro upgrade of the wastewater treatment plant here in Boherbue. This critical infrastructure paved the way for growth like we're seeing today, enabling businesses to expand, create jobs and contribute to the local community." Michael Moynihan, Fianna Fail TD for Cork North-West and Minister of State at the Department of Education and Youth, said: 'This is not just a local success story—it's a strategic investment in the future of food production in Ireland and beyond. As the global population grows, Ireland must lead in producing sustainable, high-quality food. This facility proves rural communities like Boherbue are more than ready to meet that challenge.' Production at the new plant is scheduled to begin in July and will consolidate Ingredient Solutions' growing reputation as a global leader in cheese manufacturing. The company has also launched a refreshed version of Ingredient Solutions' Yellow Road brand—named after the English translation of 'Boherbue'—targeting new markets in Europe, the Middle East, and Southeast Asia.
Irish Independent
38 minutes ago
- Irish Independent
University of Limerick honours a captain of industry for his ‘immense legacy' of economic magic
Under his leadership of over 35 years Ei Electronics has become one of Ireland's largest and most successful indigenous manufacturing and exporting companies with a turnover of €425 million in 2024. One of the largest employers in the Mid-West, Ei continues to buck the trend and has built a reputation for delivering market-leading innovations on a world stage. It is estimated that since its inception, over 17,000 people have worked at the Shannon-based organisation. As well as being an outstanding supporter of engineering and economic growth in the Mid-West, Michael developed a unique reputation for giving back to the community. He has made significant contributions to education, sport, arts and culture, health and welfare, and communities across the region. He set up the Michael Guinee Charitable Foundation to support his philanthropic pursuits into the future. He established the Ei Women in Engineering Scholarship at University of Limerick in 2019 and Ei's graduate programme supports UL's cooperative education programme as well as the recruitment of many UL engineering and science graduates annually. Speaking from the ceremony in Plassey House this Tuesday afternoon, UL's Acting President Professor Shane Kilcommins said: 'Michael Guinee's work in engineering, sustainability, business and community development has been recognised on multiple occasions by both Ennis and Limerick chambers of commerce and today, it is fitting that University of Limerick recognises and honours his immense legacy. 'Michael's extraordinary commitment to maintaining manufacturing in Shannon, his tenacious support of his dedicated staff and his ability to innovate at scale are just some of the many reasons we celebrate him. 'Today's honorary conferring is a recognition of the transformative role that industry leaders like Michael play in shaping Ireland's future, and a reaffirmation of our commitment to honour those who lead with purpose and principle.' Michael Guinee is a native of Mallow and after graduating from UCC with a Bachelor of Engineering, Michael completed a master's degree in Industrial Engineering in UCD. He worked for a short time with the ESB before moving to General Electric to work for ECCO, a GE company in Dundalk. He moved to Shannon in 1981 and two years later, he was appointed Managing Director of GE subsidiary Ei Company.
Irish Independent
an hour ago
- Irish Independent
Carlow entrepreneur Illann Power among latest tax defaulters list with bill of €781,000
Mr Power has been hit with a penalty of €781,061 'relating to a non-declaration of income tax' according to the tax defaulters list for the first quarter of this year. This was the lone case of a court determined penalty, which is handed down in cases 'where there is no agreement to a penalty, or a person fails to agree an agreed penalty'. Mr Power, with an address in Ballyconnell in Tullow, Co Carlow, had previously faced charges including forgery and reckless filing of company information. Details of 19 cases settled outside of court were published by Revenue on Tuesday, with the settlements in these cases totalling €6.2m. The list included Co Clare-based health and safety consultants, a Co Cavan medical practitioner and three landlords. The largest settlement was paid by Lifetime Brands Europe Limited, a household goods wholesaler with an address at The Hub, Nobel Way, Birmingham in the UK. The company had been subject to a Level 2 Risk Review for the non-declaration of Vat. The settlement paid by the company totalled €1,115,755, made up of €777,606 in tax, €104,868 in interest and €233,281 in penalties. It has since been paid in full. A total of €74,862.50 in court imposed fines was handed down across 51 cases. I&L Biosystems Ireland Limited, a laboratory equipment supplier based in Unit D6, North City Business Park, North Road, Finglas in Dublin, paid the next largest settlement of €761,677. This was made up of €529,264 in tax, €60,634 in interest and €161,779 in penalties, and has also been paid in full. Dublin 2 property development company SSC Property ICAV, with an address on Earlsfort Terrace, was found to have an under declaration of €490,926 in Vat. The total owed by the company came to more than €648,301 with the addition of penalties and interest. There were three unpaid settlements as of March 31, including €334,393 that remained unpaid by Co Limerick used car dealer Gannon Auto Limited, based at Elm Court in Ballyneety. €267,476 owed by Cavan landlord Kieran McMorrow, with an address at Apartment 2, The Plaza, College Street, also remained unpaid as of March 31. €150,371 owed by Oluwa's Medical Limited, a medical staff provider with an address at 14 Elm Road in Fota Rock, Carrigtwohill, Co Cork, remained unpaid at the end of the quarter.
