Agri-business company IAWS Group has won the 1998 Irish Times/ PA Management Award. It was presented in recognition of the group's excellence in management and its outstanding business record.

The award was presented to IAWS managing director, Mr Philip Lynch, by the Taoiseach, Mr Ahern, at a function in Dublin yesterday evening.

This is the 22nd year of the award and previous recipients include Jefferson Smurfit Group, Waterford Crystal, Aer Rianta, Waterford Stanley and Bank of Ireland.

Introducing the presentation of the award, Major T. B. McDowell, chairman of The Irish Times Trust Limited and The Irish Times, congratulated the Taoiseach for his role in negotiating the Northern Ireland peace agreement.

In reply, Mr Ahern said it was a time of extraordinary development on this island. The Northern Ireland agreement and important changes in the European Union had enormous potential for positive change and continued success in this State, both economically and socially.

"Irish business is also experiencing rapid changes in an era of globalisation. To succeed in this climate of dramatic developments, Irish businesses must adopt and foster the very highest standards of management skills," he said.

He said that IAWS was a worthy winner of the award which was a tribute to management's vision, commitment and achievement of standards of excellence.

The founders of the company were early pioneers of the co-operative movement who moved with and adapted to changing times and left a considerable legacy.

"The company's present day pioneers have equally navigated through further major changes over the past 15 years. "Through a programme of rationalisation and modernisation, they developed its core areas of business food, feeds, fertilizers and proteins and oils and steered it through consistent growth to become a very successful international agri-food company," Mr Ahern said.

Mr Lynch said he was "very excited, elated and honoured" to receive the award, a bronze sculpture by internationally renowned sculptor, Mr Oisin Kelly, which he accepted on behalf of his colleagues.

He also thanked the IAWS board and particularly its chairman, Mr James Moloney, who had given him the "space" to operate.

Mr Ray Nulty, chief executive of PA Consulting Group, told the reception that IAWS was a "remarkable success story".

The judges for this year's award were Mr Dan Flinter, chief executive of Forbairt; Mr Ronnie Kells, Ulster Bank chief executive; the managing director of Superquinn, Mr Feargal Quinn; and Mr Adrian Hegarty, managing director of Eureko Ireland.