Mannok, the Ballyconnell building products and packaging businesses has been sold to a Turkish firm for €330m.
Building materials company, Cimsa, has reached agreement to acquire 94.7 per cent of Mannok with the local Mannok leadership retaining a 5.3 per cent interest.
According to a statement, the Mannok brand will also be retained and the business will continue to be led by local management.
Employing approximately 800 staff, the main activities of Mannok's two divisions are the manufacture of cement, concrete, quarry and aggregate products and insulation materials and the manufacture of packaging products mainly for the food industry.
Its businesses were formerly part of the Quinn group of companies which were acquired in 2014 by an investor group led by Brigade Capital Management.
