Norbrook chief seeks partner

Businessman Dr Edward Haughey is seeking a partner for an £80 million sterling (€114 million) investment plan for his UK-based airport company.

Dr Haughey, founder and owner of Newry, Co Down-based veterinary and pharmaceutical group Norbrook Laboratories, is seeking backing to develop new routes out of Carlisle Airport in Cumbria in northwest England. His company, Haughey Airports Ltd, owns the airport.

According to reports yesterday, Mr Haughey's plan centres on developing new routes linking the centre with Belfast, London, Dublin, the continent and the Mediterranean.

The development will involve upgrading the runway, landing lights, terminal and car-park facilities. Dr Haughey has priced it at £80 million, and says that he is prepared to put up £40 million. However, he is seeking local development agencies to contribute the rest.

A spokesman said that no response was expected from the main body, the UK's North West Development Agency, before the New Year.

The flagship route is likely to fly to London City Airport, sparking speculation yesterday that he could join forces with Mr Dermot Desmond, who owns that facility.

Haughey Airports is registered in the UK. Its last accounts show that the profit and loss account had accumulated losses of £1.7 million at the end of August 2002, compared with £1.5 million the previous year. Total liabilities exceeded total assets by £699,791. The company had £849,130 in net assets the previous year.

Dr Haughey has a number of connections with Carlisle. Norbrook has an R&D and manufacturing facility in the region, while Dr Haughey owns a castle on 1,000 acres near the airport.