Biotech firm Enfer goes unlimited

TIPPERARY ANIMAL biotech group Enfer has become an unlimited company, a move that no longer requires it to publish its annual…

TIPPERARY ANIMAL biotech group Enfer has become an unlimited company, a move that no longer requires it to publish its annual financial information.

The change in status became effective on August 19th and applies to Enfer Technology and Enfer Scientific.

The change in status means the backers of the biotech company are now personally liable for any losses should the company go bust.

They will no longer able to avail of limited liability protection under company law.

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Founded in 1990 by Louis Ronan and Michael O’Connor, Enfer operates from facilities in Clonmel, Newbridge and Naas.

Enfer’s accounts show that the pair shared dividends of €59.2 million between 2002 and 2006. No dividend was paid in 2007, the latest year for which accounts are available.

Enfer, a long-time sponsor of the Tipperary hurling team, was one of the first companies in the world to launch a rapid test-screening system for bovine spongiform encephalopathy (BSE).

It has developed tests for a variety of other animal diseases and its products are sold across Europe and in the United States.

Enfer’s latest accounts show it made a loss of €1.78 million in 2007.

Its turnover declined to €9.5 million that year from €13.2 million in 2006.

An associated company, Bellpharma Ltd, ceased operation last year, with Enfer recording an impairment charge of €362,287 in its 2007 accounts.

No comment was available from Enfer yesterday.

Ciarán Hancock

Ciarán Hancock

Ciarán Hancock is Business Editor of The Irish Times