The sales process for Encirc (formerly Quinn Glass), has entered its second phase after initial bids have been received for the business. Lazard, an international investment bank, is handling the sale. A spokesman for the company confirmed: "Encirc is currently engaged in a sales process which is unlikely to conclude for a number of weeks." He declined to comment on the level of interest in the business, which employees 1000 people at facilities in Derrylin, Ireland and Cheshire, UK. Encirc has annual revenues of more than 300M/Euros and its plants are considered among the best in Europe. Existing private equity shareholders in Quinn Glass are believed to be in the running to acquire total control of the glass manufacturing business. External private equity investors are also looking at the company. To read this story in full, please visit: www.irishtimes.com
