ATHLONE INSTITUTE of Technology yesterday bestowed its highest accolade on two leading businessmen and two former government ministers
Elan founder Dr Donald Panoz, Grant Engineering’s Stephen Grant and former government ministers Patrick Cooney and Mary O’Rourke were conferred as distinguished fellows of the institute.
The award recognises individuals who have made significant contributions to society and the development and advancement of the institute.
Speaking after the event, Mrs O’Rourke said she and her “fellow fellows” were “buoyed up” by the award.
“It was a very very inspiring day and I was hugely appreciative of it,” she remarked. “I was minister for education for five years and I was the chair of the board here in the 1970s”.
According to institute president Prof Ciarán Ó Catháin, “the four recipients of this award have each written themselves into the annals for the enormous contribution that they have made in public life, in research, in business, and in improving the quality of life enjoyed by people everywhere.
“At a time when there is a great need for positivity, these distinguished fellowship awards showcase some of the good news stories from the midlands,” he added.
Having become the youngest chief executive of a US pharmaceutical company at 25, Don Panoz moved to Ireland and established what became known as Elan Corporation. The company established an RD centre in Athlone in 1978.
The chairman of the Athlone institute’s governing body, Paul Breen, applauded Dr Panoz’s achievements. “Don started Elan with $150,000 and by 1981 it became the first Irish company to be publicly traded in the US, and when he retired in 1997 it was the richest valued company in the Republic of Ireland. That is a dream come true,” he said.
Stephen Grant, founder of Grant Engineering, began his business at a time of global uncertainty over oil prices. He developed his own back boiler system in 1975 before developing his own oil burners in the 1980s. He now has 120 separate products with 50 patents. The top 20-rated boilers in the UK are all Grant products. He has captured 60 per cent of the UK market and more recently his company, Grant Engineering, has begun exporting to Denmark and New Zealand.
Patrick Cooney served as a Fine Gael TD and as minister for justice, minister for posts and telegraphs, minister for transport, minister for defence and minister for education. He has also served in the Seanad as leader of the opposition and as an MEP.