A €10 million deal involving US semiconductor giant Analog Devices has secured the future of a Limerick flooring firm, the Limerick Post has learned.
Provincial Floorcoverings Ltd (PFL), which was founded by the Haugh family in 1974, recently sold its 52,000 sq ft premises on the Raheen Business Park to the American technology company.
PFL then purchased the Delta indoor sports dome facility on the Ballysimon Road in a separate deal with Parkes Development Management.
PFL circulated a newsletter to its customers this week confirming that it had recently completed the purchase of a new 100,000 sq ft building complex in the Delta Retail Park which it is refitting by installing high bay warehousing throughout.
The newsletter pointed out that 2022 was “another turbulent year for the flooring industry in general with global events creating issues with shipping and the supply of raw materials”.
However, the industry had managed to “fare well in spite of all these challenges, and with encouraging signs, we can all look forward with optimism to 2023”.
Along with the development of a new digital warehouse management system, PFL is also expanding its fleet of delivery trucks and growing staff numbers across its three bases in Limerick, Dublin and Belfast.
Over the past two years, the company’s workforce has grown from 67 to 80.
Most recent company accounts for 2021, show that PFL had a turnover of €36 million and a gross profit of €8.9 million reduced to €2.9 million after tax, administrative expenses and other operating income.
