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Tag Archives: Element Six

Pandemic makes major dent in Clare company’s profits

THE pandemic had a major impact on Element Six’s finances last year, according to newly filed accounts, writes Owen Ryan. After-tax profits at the industrial diamond company fell from $19.8m in 2019 to $4.8m in 2020. The Director’s Report accompanying the accounts references uncertainties in the market caused by the Covid-19 pandemic. Revenue fell by 28% year on year, primarily driven by reduced demand as a result of Covid-19, while it also had to settle a patent infringement case. Summing up the financial performance the document stated, “The profit on ordinary activities before taxation amounted to $5,224,000 (2019: $21,535,000). A profit after tax of $4,806,000 (2019: $19,805,000) was taken to reserves. There were no dividends paid or received in the financial year.” It said that production had been able to continue throughout the pandemic. “Covid-19 still presents uncertainties to future forecasts and budgets which may impact the company’s ability to continue as a going concern. “However, throughout 2020 and into …

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Element Six marks 60 years in Shannon

Element Six is marking 60 years of operations in Shannon today. First established in 1961, the Element Six Limited facility in Shannon develops and manufactures synthetic diamond solutions supplying global Oil & Gas, Automotive & Aerospace and Mining & Construction industries. Since 2017, the company has invested €16m on the Shannon site and has created 100 jobs in the area, bringing the total number of people employed to over 500. Over the next three years Element Six Limited will embark on further significant infrastructure programmes aimed at paving the way for the site’s future and improving the overall operational efficiency at its Shannon facility. Commenting on the anniversary Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD said, “I’d like to congratulate the entire team at Element Six on reaching their diamond anniversary. It’s an incredible milestone and I know the company is proud of its long history in Shannon, employing over 500 people. Thank you for your …

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All you need to know about apprenticeships

In a break from its norm, Shannon Chamber went back to school recently to host its first apprenticeships evening at St Patrick’s Comprehensive in Shannon. The purpose of the evening was to encourage students and their parents to embrace apprenticeships as a career route and to show that there is a way into work that suits students of all aptitudes. Judging by the turnout of over 160, this was an event that touched the hearts and minds of all. The buzz in the auditorium, after the presentations by the five participating companies, pointed to a keen interest by attendees to find out more about the apprenticeship schemes run by Molex, Modular Automation, Element Six, Lufthansa Technik Shannon and Atlantic Aviation Group. The fact that most presentations were given by employees, who had practical experience of being an apprentice, added greatly to the value of the event. Process engineering manager with Molex, Michael Collins saw his career progress from toolmaker to …

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Element Six staff on their bikes for charity

Element Six staff are set to get on their bikes to raise funds for a charity that has provided valuable support to a child of a worker at the Shannon based multi-national’s plant. Members of staff will take on a 50km cycle in south east Clare as a ‘thank you’ to Cliona’s Foundation for its support for two year old Fionna Barry, who has spent most of his young life in hospital being treated for Infantile Spasms – a debilitating and life limiting illness that requires 24hour care. Fionn’s father Trevor Barry works at Element 6 and staff have chosen Cliona’s Foundation as its designated charity for the year to give something back to the Limerick based organisation for its support for the two year old. Fionn was diagnosed with the illness when he was just six months old and is unable to walk, stand or even sit unaided. He has also speech challenges and is visually impaired. The cycle …

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100 new jobs at Element Six

Element Six, a world leader in synthetic diamond super-materials and member of The De Beers Group of Companies, has today (Friday) announced the creation of a further 100 jobs at its Shannon facility as part of a €7 million investment at the plant this year. The investment – officially announced today at a briefing at the plant hosted by Element Six Executive Director of Operations Ken Sullivan and attended by Minister of State at the Department of Jobs, Enterprise and Innovation Pat Breen and the company’s global CEO Mr. Walter Hühn – will bring to €40 million the overall spend by Element Six at Shannon over a four year period. The positions are in the areas of supply chain, engineering and manufacturing, with recruitment already underway and all posts set to be filled in the first half of this year. It is the latest round of recruitment at the company and will bring overall employment at Element Six in Shannon to …

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Strike postponed at Element Six

INDUSTRIAL action due to take place at Element Six this week, having been earlier adjourned, has now been postponed for a second time. SIPTU members have been at loggerheads with management for some time over a variety of issues, most particularly a failure by the company to implement a Labour Court recommendation. Representatives of the union told The Clare Champio that their members were under very high levels of stress, with many of them having to take medication to cope with the prevailing situation. A meeting between management and SIPTU took place last Friday, which was chaired by Brian McGinn of the Labour Relations Commission. It is understood that some progress was made at this meeting, which led to the decision to postpone the strike action again. A document is set to be put to the union shortly, with members due to ballot on it thereafter. However, it is understood that there are some concerns already emerging that attempts may …

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Element Six SIPTU workers set to strike

SIPTU workers at Element Six have been suffering mental health issues, as a result of stress and pressure in the workplace, it has been claimed. This comes in advance of a planned 24-hour work stoppage on September 21. One shop steward told The Clare Champion that union members have spoken to him about having been prescribed medication to deal with workplace-related anxiety and depression. He said people have also been ringing him to say they are unable to go to work, such is their level of distress. “It’s very bad, to the point that people took a stand for industrial action; they felt they had no other option. The way that people are being treated down there, I think people have had enough. Numerous people have been out, due to stress; some of them have just conceded and taken early retirement. I think most of them would have rather worked until closer to 65, but they are just conceding and …

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Element Six workers serve notice of strike action

SIPTU members in Element Six in Shannon have served management with notice of a 24-hour work stoppage which will begin on Wednesday, September 21 at 6.30am. SIPTU Organiser, Ray Mitchell, said: “Last month, our members voted overwhelmingly to take industrial action in response to the failure of management to fully implement a Labour Court recommendation in relation to changes of work practices and shift patterns at the industrial diamond manufacturing plant. “Since then, there has been no attempt by management to engage with our members to discuss the issues that have resulted in this dispute. SIPTU representatives remain available to meet with management to engage in serious negotiations to find a solution to the outstanding issues.” He added: “If management was to engage in negotiations with our members that were really aimed at finding a resolution to the issues in dispute, the upcoming action could yet be averted. It is now up to management to show its willingness to focus …

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