By Eoin Kelleher
ONE of the country’s leading structural steel engineering businesses has gone into receivership, it was announced last week.
Dundrum based O’Dwyer’s Steel (ODS) has been placed into receivership after more than 50 years in business. The company was not available for comment this week.
The firm, which has built its reputation into a household name across Ireland, employs 48 people either directly, or indirectly through subcontractors.
The company 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.
Mr Tom Doheney, of Deloitte & Touche, Limerick, has been appointed as receiver and manager. Under a receivership, a company can continue to trade while its debts are paid back to creditors.
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. It is understood that the majority of the company’s current projects will be completed.
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.