Independent TD Mattie McGrath has said he has written to the CEO of the C&C Group which owns the Magners and Bulmers brand in order to seek clarity around its decision to delist the company from the Irish Stock Exchange and transfer its holdings to the London Stock Exchange. Deputy McGrath was speaking after C&C issued a statement saying it was making the move because most of C&C’s revenues, earnings and activities are now derived in and from the UK:
“We have all warmly welcomed the investment of the C&C Group in Clonmel and in particular, its decision to go ahead with the Dowd’s Lane Visitor Centre.
What I am seeking however is an assurance that the decision by C&C to transfer its listings away from Dublin to the London Stock Exchange does not hint at any future plans that may adversely impact Irish jobs.
C&C has already confirmed that that there has been a reduction in the proportion of the company’s revenues and profit earned in Ireland and so naturally we will want clarification and guarantees around the future development of the company in our own county.
Bulmers has a long tradition in Clonmel and it is something we all want to see continue and strengthen as the uncertainty around Brexit finally plays out in reality,” concluded Deputy McGrath.