Waterford shipping company to close

A Waterford shipping company that recently completed a €15million government contract will be wound up at a creditors meeting this week.

Global Ocean Technologies, whose chief executive, Noel Hanley, also owned the Euroceltic airline, was recently ordered to pay the Collector General more than €200,000. It is understood that other creditors are owed substantial sums.

Global Ocean was established in 1998 and was involved in surveys and deep sea recovery work for aircraft.