Quinn Group Raises 80M Euros

The Quinn Group has mandated Barclays Capital to raise Euros 80M. The group is in the middle of a massive investment programme, pumping Euros 250m into a high-tech bottle factory at Chester; 200M Euros into building the world's largest raidator plant in Wales, & Euros 150M on a plastics factory in Germany. It is also developing its fledgling UK insurance business. It is understood that aside from the US$300m raised last year, which the group said has been earmarked for future development needs & to replace existing debt, Quinn Group was also provided with a syndicated loan last year which could be as high as $300M. For now, the company is eschewing a stockmarket flotation as a means of raising capital.