A round-up of other news in brief

Freight provider expands services

Irish freight and transport service provider TPN (The Pallet Network) plans to create more than a dozen jobs over the next 18 months at a new logistics division in Blanchardstown, which is expected to achieve turnover of €1 million within three years. TPN is the first pallet network in Ireland to expand into logistics services.

It has invested €100,000 in new IT and infrastructure.

Energia gets 65m to build wind farms

Energia, a member of the Viridian Group, has achieved funding for its €72 million investment in 51 megawatts of electricity capacity in new wind farms at Crigshane and Church Hill in Co Tyrone.

Energia has secured €65 million in non-recourse project financing with Nord/LB and Rabobank, for an 18-year term. Work will start immediately on the wind farms.

Altrinsic appoints State Street

Financial services group State Street Corporation has been appointed by Altrinsic Global Advisors, a Connecticut-based investment manager, to service its new Irish-based UCITS compliant fund.

State Street in Dublin will provide the Altrinsic Global Equity Fund with custody and fund administration services.

Profits at B&Q Ireland Ltd fall by 75%

Profits at the Irish arm of British DIY chain BQ fell by 75 per cent in the year to the end of January 2010 to €798,000 as the recession continued to weigh on consumer demand. Sales were down 10 per cent at €112.8 million. BQ Ireland Ltd paid a €1.3 million dividend to parent group, Kingfisher plc.