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Law paves way for new Shannon Group

Monday, July 28 14:35:21

The Shannon Group Bill has now been signed into law by President Michael D. Higgins, paving the way for a comprehensive body to stimulate growth at Shannon Airport and its industrial complex.

Shannon Group will combine Shannon Airport with the property ownership and management activities of Shannon Commercial Enterprises Limited, Shannon Heritage and the International Aviation Services Centre (IASC), which builds on the aviation related activities already located at the Airport and in the Shannon Free Zone area.

Welcoming the announcement Rose Hynes, chairman Shannon Airport said: "The separation of Shannon Airport in January of last year and the enactment of the Shannon Group legislation are critical steps in a process that will now allow us to drive forward with our ambitious plans for Shannon Group. The establishment of Shannon Group will now take place in the coming weeks."

Commenting on the announcement Shannon Group CEO Neil Pakey: "The signing into law of the Bill marks an exciting new beginning for the strategic business units within the Shannon Group and we look forward to the challenges ahead."

Shannon Group plc is a new commercial state company comprising four strategic business units focused on delivering economic benefits for the west of Ireland and the wider national economy. It brings together Shannon Airport, Shannon Heritage, the International Aviation Services Centre (IASC) and Shannon Commercial Properties (formally Shannon Development).

For more visit: www.businessworld.ie