GALWAY BUSINESSMAN John Flaherty, founder of CF Group, was named the 2008 Ernst Young Entrepreneur of the Year at a ceremony last night.

Mr Flaherty was also the winner of the international category before receiving the overall title, which was presented by the Tánaiste and Minister for Enterprise, Trade and Employment, Mary Coughlan.

I set out to build a global business and by the way that was always my plan and Ive not fully finished," said Mr Flaherty in his acceptance speech.

Established in Ballybane, Galway, in 1989 the CF Manufacturing Group commenced as a small specialist company focusing principally on import substitution in the supply of tool-making services to Ireland's established base of multinational companies.

The company has since expanded its Galway interests to a purpose-built facility in Athenry and progressed to a global supplier to the sheet metal industry with overseas operations now in the UK, the Czech Republic, the Philippines and most recently China, where Mr Flaherty opened a manufacturing plant in July of this year.

CF Group's core business is product and tool design, tool manufacture and metal production.

The company counts some of the world's largest multinational companies amongst its client base including household names such as IBM, EMC, APC, Ingersoll Rand, Glen Dimplex, Sanyo and Hitachi Koki.

Sales revenue for CF has risen consistently over the last five years and for 2007 reached $53 million in Ireland and $100 million globally.

When asked by host David McWilliams about the death of Irish manufacturing he replied: Let this be a message to Ireland, that if we dont keep what manufacturing is left we will have nothing because manufacturing is wealth.

Mr Flaherty later shared his recipe for Irish manufacturing success. "We need flat management, total accountability and we need best manufacturing practices and the best technology available to support that," he said.

In a video sequence shown at the awards Mr Flaherty revealed he had received "great" offers for his business over the years. On accepting hisaward he commented: " I intend to pass it on not to sell it."

"My motto is if you start something, stay at it until you have it finished."

Enda Kelly, partner-in-charge, Ernst Young Entrepreneur of the Year Programme said: "CF is at the forefront of Irish companies contributing to the new global economy and has implemented an innovative and successful business model.

"The Entrepreneur of the Year Programme provides us with valuable role models whose experience can teach both Ireland's existing and future business people.

"John Flaherty will undoubtedly be an excellent ambassador for entrepreneurship in Ireland," he added.

The growth of CF was achieved without a significant cash investment, but rather through shrewd financial management, close examination of potential cost improvements, commitment to new technology and best manufacturing process.

The company employs a total of 984 people and contributes around $11 million in wages alone from its Galway operation.

It has further significant impact on the Irish economy; sourcing raw materials, hardware, packaging, transport services, plant equipment and consumables from some 17 indigenous suppliers around the country.

Denis O'Brien, chairman of the judging panel and a former winner of the award, commented on the high quality of finalists this year stating they were testament to the successful entrepreneurial community growing in Ireland.

"When global manufacturing moved east in the late 1990s, John Flaherty refused to allow his Irish enterprise sleepwalk its way into extinction. To build a global business that has maintained its Irish manufacturing base is admirable," Mr O'Brien said.