The lifting of the EU ban on British beef will be a significant boost to Irish beef processors who have plants there.
Anglo Beef Processors (ABP), the company controlled by Mr Larry Goodman, is one of the largest processors in Britain and has been severely affected by the ban, in place since March 27, 1996.
ABP has about 10 processing plants in Britain and is one of the biggest processors in the country. Last night a spokesman said the lifting of the ban will have "a dramatic" effect on the company's business in Britain.
Irish Food Processors (IFP) owns ABP and half of IFP's estimated £700 million turnover comes from the British market. It has been estimated that, on average, beef companies lost 25 per cent of their profits during the ban.
The spokesman said exports from Britain had been exceptionally strong before the ban. He said ABP did not expect to see the benefits straight away and realised that consumer confidence in beef supplied from Britain still needed to be addressed.
He added that the company had been able to replace some of the revenue lost during the ban by increasing its sales to British multiples which have been running a "buy British beef" campaign, organised by the British Meat and Livestock commission. He is confident it can regain all the market share it lost during the 32-month ban.
Another company involved in the beef industry in Britain is the Meath-based, Kepak, which has beef operations in Scotland and England with a turnover of over £100 million sterling.
Like ABP, Kepak has several contracts with British multiples, but is also understood to have exported from Britain. The lifting of the ban should also help processors based in the Republic who have seen a reduction in sales since the ban was introduced.
British multiples, under public pressure, cut back the amount of beef they bought from Irish-based companies during the ban and this should now ease.