Diagnostic tests manufacturer Trinity Biotech is weathering the recent downturn in the Irish stock market better than many of its counterparts, according to chief executive Ronan O'Caoimh.
Speaking after the group's annual general meeting in Bray, Co Wicklow, yesterday Mr O'Caoimh said the company was holding its share price while many others have been losing value.
He said that the company's recent acquisition of the coagulation product line of US firm bioMérieux will increase the number of employees at Trinity Biotech's Bray headquarters to over 400.
He also said that the company is now roughly number 20 in the global diagnostics market, and he aims to take it into the top 10.
Mr O'Caoimh said that the small turnout at the agm was due to the fact that most of Trinity Biotech's shareholders are US-based.
The meeting approved a resolution authorising the buyback and reissue of company shares, as was an increase in authorised share capital by 25,000,000 ordinary shares to 100,000,000.
The 2006 Employee Share Option Plan was also approved, meaning that directors may receive share options under the scheme.
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