ENTERPRISE IRELAND COMPANIES FARING WELL IN GERMANY - Usually it is the Irish drinks brands that people are first to think about, but in Germany the first thing that comes to mind about Irish produce is Kerrygold butter. Today it celebrates 40 years on the Germany market, and it now enjoys the market leading position. But there are also Irish biotechnology firms doing well in Germany, while Irish games firms are massive here. Primark or Pennys has ten shops here now and involves other Irish firms in its expansion - like Mercury Engineering, Sisk, Nualight and Irish Architects RKD. Dog food company Irish Dog Foods has customers like Lidl and Aldi. Combilift is also big here, as is equestrian goods provider Horseware, which supplies 400 German stores mainly with horse blankets and clothes for riders.
David Dennison, from Irish truck/trailer manufacturer Dennisons, says there is a massive difference between now and the recent past in terms of products the company sells and the businesses it deals with, adding that it is a very legislative environment now. The company has been in the German market for just three years and is seeing massive growth. Mr Dennison says the company is known in Germany for its strong and durable trailers.
The company’s agent in Germany, Peter Fehlberg, says it is not Germany's job to teach Irish companies what to do as they are very successful already. He says that the upcoming election in Germany will not really impact the transport industry, adding that he believes Angela Merkel will win again.
Enterprise Ireland’s manager for Germany, Eddie Goodwin, says the last few years have been very good for EI companies in the country, although growth did taper off a bit in 2011 as the German economy itself slowed somewhat. He stresses that it is important for Irish firms who want to break into the German market to know where their natural fit is in the country. The outlook for the German economy is very good, the Enterprise Ireland man says, with the unemployment rate in the country at just over 5%, while the PMI is at its strongest level in two years. The German construction industry is booming, while the medical devices, automotive and niche areas within software are also doing well, Mr Goodwin states.
MORNING BRIEFS - In a trading statement, Ryanair has said that while it remains comfortable with its first half year guidance, recent weakness in forward yields into the third quarter suggests that there will be no upgrade to full year guidance.
*** After Monday’s improved manufacturing figures, Investec’s monthly Services Purchasing Managers’ index shows August recorded growth for the 13th month in a row. The improvement was down to the good summer weather, which saw to a boost in the tourism sector.
*** A voluntary scheme being run by the Central Bank will see 240 local businesses in Wexford phasing out the one and two cent coins. The scheme is to test the how rounding will work in; and to see the reaction of consumers and retailers. The Central Bank says rounding is voluntary and will be “simple and fair for all”.