Thomas Crosbie Holdings (TCH), which own the Irish Examiner and the Sunday Business Post, has sold its Cork premises to O'Callaghan Properties and has acquired a new 3.5 acre green-field site in Mahon as part of the deal.
Although TCH will retain possession of its Academy Street premises until the end of 2006, it said that it is considering moving to a site that it owns at Half Moon Street and Lavitt's Quay, where the group has planning permisison for a six-storey office development.
The group's titles include The Irish Examiner, The Sunday Business Post and a number of local papers on both sides of the border. The group also has an interest in a number of web-based and radio media operations.
TCH has also decided to outsource its printing function to Webprint Concepts Limited. By the end of 2005 Webprint Concepts will be printing 13 of the group's titles in Mahon. The Irish Post, the group's UK title, is the only title which will not be printed in Mahon.
It is anticipated that Webprint Concepts will employ 50 people. More than 80 people are currently employed as part of the Group's printing division in Cork and Ballina and some of its printing is carried out under contract by the Belfast Telegraph.
TCH is entering discussions with the unions in relations to the outsourcing of the company's printing operation and employees who do not transfer to Webprint Concepts will be offered redundancy packages.
