62 jobs have been saved after Port Glasgow-based McLaren Packaging purchased Moelle Interlok Packaging Limited following a short administration period.
The firm, also based in Port Glasgow, was part of the larger Moelle Group and produces solid board divisions and layer pads for the distilled spirit, drinks, glass, electronics, corrugated case and injection pharmaceutical cosmetics industries.
The business and assets have been sold to McLaren, an independent supplier of corrugated cases to the whisky industry, with all 62 Moelle Interlok staff retaining their jobs when the business transfers to new ownership, via the newly formed company, Interlok Divisions Limited.
Interlok was originally established by McLaren in 1985 before it was sold in 1994.
Donald McLaren, managing director at McLaren Packaging said, “Interlok’s 100% recycled product offers a cost-effective method of providing a reliable product protection solution during transportation and storage of fragile goods. Combined with a strong reputation for service and quality, due to the efforts of the experienced and dedicated workforce, it fits and complements the range of packaging solutions we offer to our customers.
“There are various synergies to be realised from this deal and, as such, we are delighted to bring home Interlok to its origins while safeguarding jobs vital to the local economy.”
Sandy Gibbons, managing director at Moelle Interlok Packaging added, “After working hard to secure a positive outcome for Interlok, I am delighted that McLaren Packaging is involved, bringing immediate stability and confidence for the future.”
Brian Milne and Eileen Blackburn of French Duncan LLP were appointed joint administrators. Brian Milne, restructuring and debt advisory partner at French Duncan LLP commented, “Moelle Interlok Packaging Limited has been loss making for a few years and its parent company was unwilling to continue to operate the business on that basis.
“We have managed to find an excellent buyer for the business and its assets which ensures the 62 staff will continue to be employed at the existing plant under the new owners.
“McLaren Packaging have 40 years of experience in the packaging industry and this purchase will fit well with their existing business. It is a positive result that the business will continue to trade and that the employees have kept their jobs.”