CONCRETE producer Solway Precast has been sold to a consortium led by its former management.
The factory, in Barrhill, South Ayrshire, was slated for closure by construction and civil engineering firm Barr in March last year with the loss of 60 jobs.
But John Barr, one of the brothers who founded Barr, has backed a deal by Solway Precast managers David Murdoch and Andrew Gillon to take the business on.
Production has now restarted and 10 people have been hired, with plans to increase that number in the coming months.
When Barr was sold to Northern Irish firm McLaughlin & Harvey in 2007, Mr Barr had retained an advisory role as technical director. However, he has given that up to focus on Solway Precast.
He said: "I have been working to secure this deal ever since it became clear that Solway Precast was not a part of Barr's long-term plans and I am delighted to have done so.
"The existing management team is a strong one and the products are well-known and respected in the market.
"We see significant opportunities to grow the business by targeting the industrial and agricultural sectors and will be seeking to position ourselves as the Scottish precaster of choice.
"While the initial workforce is relatively small, we have a business plan in place to create more jobs once we are up and running fully again."
Scottish Enterprise, the West of Scotland Loan Fund and South Ayrshire Council were involved in supporting the deal through a funding package which is worth up to £250,000.
Bill Weir, managing director of Barr's industrial division, said the company would now concentrate on its core quarrying, environmental and construction divisions.
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