Quinn Group and Lagan abandon joint venture
The Quinn Group cement and quarrying business and the Belfast-based Lagan group have abandoned plans for a joint venture.
In December, the two companies signed a memorandum of understanding to explore the possibility.
The two firms said: "Discussions have now concluded and both companies have decided not to progress further with the proposed joint venture.
The Quinn Group is controlled by a consortium of international banks.
The group was formerly owned by the bankrupt ex-billionaire Sean Quinn.
The Lagan Group is owned by Kevin Lagan, one of Northern Ireland's wealthiest businessmen.