Founder Conor McCarthy says school leaves should consider alternatives to third level education
Conor McCarthy’s aircraft maintenance and overhaul company, Dublin Aerospace is considering establishing at least one overseas operation having been approached by a number of European governments to do so.
The company, which includes Air Asia’s founder Tony Fernandes as a shareholder, has continued to grow strongly but is reluctant to set up a second site at Dublin Airport due to what it considers excessive local authority rating charges which are levied on the footprint of buildings rather than the nature of the work involved.
The Irish Independent reports that it will invest some €12m initially in expanding its business outside of Ireland and that up to €35m could be invested over three years.
"It's something we're actively working on and it's an active search that we are doing," Mr McCarthy said.
Dublin Aerospace, which doubled profits to €3m last year, has also just secured a major five-year landing gear maintenance contract from a new customer, Air Asia.
Earlier on Breakfast Business, Conor McCarthy told Newstalk that the company is sustaining its growth through support for fast-growing four-year apprenticeship and two-year trainee programmes - and added that young people should consider these routes as alternatives to college courses when leaving school.
Mr McCarthy says that company needs a "constant stream of trainees and apprentices coming through."
He added that this year is "tracking well," at that the firm expects 2015's strong performance to continue into 2016.