Mincon PLC Reports Strong Growth, Record Sales, Solid Demand and Key Acquisitions
Mincon PLC based in Shannon, Ireland, designs and manufactures rock drilling tools for mining, quarrying, hydrocarbons and groundwater industries. With manufacturing facilities in Ireland, Australia, USA and more recently the UK, Mincon reported record Revenues of €97M for 2017, and a 38% increase in Operating Profit to €14M.
Mincon recently completed the acquisition of Swedish drill pipe manufacturer Driconeq and will merge it with an earlier Swedish acquisition Viqing. Manufacturing and distribution capacity is being increased to meet strong demand, much of it driven by the recovery in mining and oil and gas sectors.
Mincon is a member of Geoscience Ireland and participates in Trade Fairs and Conventions across the globe e.g. at INDABA Mining in Cape Town, PDAC in Toronto and Big5 in Dubai earlier this year and in the forthcoming INTERMAT in Paris later this month.
Sean Finlay of Geoscience Ireland commented;
“Mincon PLC, quoted on the Dublin and London Stock Exchanges, is a great example of an Irish company which has developed a strong international business by providing innovative and excellently engineered products for a range of sectors. It’s management team has delivered impressive and consistent growth over 40 years and its success is founded on delivery of quality products to its clients.”