A significant investor has come to the aid of ailing Dundrum fabrication company O’Dwyer Steel saving jobs and ensuring the future of the company.
The investor, who wishes to remain anonymous, was secured two months after the company went into receivership. It will now be re-named Dundrum Steel.
O’Dwyer Steel was one of the country’s leading structural steel engineering businesses before going into receivership in April, after more than 50 years in business. It was founded in the 1960s by John J Dwyer. An employee buy-out took place in recent years.
At the time it was estimated the company employed 48 people, directly and through subcontractors. At the height of its success it it thought to have employed up to 100 people. This new investment will secure the jobs of up to 30 people.
This investment is described as a vote of confidence in Dundrum Steele and it’s future.
Deputy Tom Hayes welcomed the investment. “This company is part of the infrastructure of Dundrum and the locality. They are creating badly needed employment in this area where there is a skilled work force that have been dedicated to O’Dwyer Steele. This is important for the future of the locality. I wish them well.”
O’Dwyer Steele, now Dundrum Steel, is engaged in the fabrication and erection of structural steel and cladding for the industrial, commercial, agricultural and leisure sectors. It’s understood the company was forced into receivership by a combination of bad debts which occurred in the industrial and commercial sectors, along with a sharp decline in business due to the downturn in the building trade.
In recent years, O’Dwyers Steel was involved in some major sporting projects such as the viewing stands at both Thomand Park and Semple Stadium, as well as creating scaled down versions of farm buildings at the City Farm at Dublin Zoo. Some of the company’s major Tipperary achievements include Clonmel Swimming Pool, Cashel Rugby Club, Golden GAA Club and Stand, and Community Centres in Kilfeacle, Cappawhite, Moyglass, and Rearcross.