Qualceram Buys Aicklow Waterfront Property

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Qualceram Buys Aicklow Waterfront Property

Monday, April 23 2007

Bathroom suite manufacturer Qualceram Shires has announced that it has completed the contract process to purchase the South Quay in Arklow, Co Wicklow from the Arklow Harbour Commissioners for €2m.

The group already owns the freehold interest in the remainder of the Arklow site which provides for mixed use development such as hotel, recreation and residential purposes.

Qualceram intends to sell its Arklow site and to relocate to an alternative site in the area with the objective of developing the new site into a modern manufacturing and international distribution centre for its global business.

Advisors have been appointed to evaluate this process and the Arklow property will be put on the market by tender this week.

It is envisaged that receipt of tenders will be set for Thursday 7 June, 2007.

Chief Executive of Qualceram Shires, John O’Loughlin said: “We are now in a position to proceed with the disposal of the entire site, and continue to focus our attention on further enhancing our customer service capabilities from a purpose built location.”

Qualceram's shares were up 3.5% at €2.07 this morning on the news that it had bought the Arklow site.

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