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76. Glen Electric (NI)

Group chairman: Martin Naughton

Employment: 486

Turnover: n/a

Pre-tax profit: n/a

The group was founded by its chairman Dr Martin Naughton in Newry in 1973.

It has grown to become the largest manufacturer of domestic heating appliances in the world, with a range of more than 400 products and strong market share in the UK and Irish markets.

It manufacturing facilities in Newry, Portadown and its £3.5m logistics and product training facility in Craigavon, which was opened in March last year.

In November 2009 the company made 40 workers in Newry redundant as a result of increased competition and the recession, noting it had seen a gradual decline in the production of convector heaters and panel heaters in recent years.

More than 80% of its turnover related to sale in Europe last year, with US sales accounting for 9% and the remainder from the rest of the world.

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