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Company Report: Devenish (NI) Ltd

 

Devenish (NI) is a leading Northern Ireland registered company with subsidiary companies involving several important international activities.

The group is committed to a range of research and development activities that add to the commercial value of its nutrition animal feed products.

In August 2018 the group, as part of a refinancing package, received an investment of €40m from the European Investment Bank along with restructured debt facilities from the Ulster and Danske Banks.

The group plans to use these facilities to concentrate on maximising the commercial potential of its investments.

The group has 16 active subsidiary companies including four registered in the USA, two in Northern Ireland and companies registered in Mexico and Denmark. Recently the group has acquired 50% of the share capital of a business in Turkey.

A main subsidiary is Devenish Nutrition. The group has plans for the development of production facilities in the USA and Mexico. A global innovation centre is to be developed at Dowth in the Republic which will be a base for grassland research.

Current trading performance has been adversely affected by macro-economic factors including uncertainty surrounding the decision of the UK to leave the EU.

The principal activities of the group are supported by continuing significant spending on research and development.

Capital investment in the most recent year, at £15.7m, continued to increase.

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