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MBO secures Arjowiggins brand overseas

The second phase of a management buyout of Arjowiggins has seen the team take ownership of operations in Europe and China, securing almost 300 more jobs.

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Arjowiggins operations in Europe and China have also been secured

The UK operations of the paper manufacturer were secured last week, saving hundreds of jobs and two historic paper mills – Stoneywood in Aberdeen and Chartham in Kent.

The new deal protects the 320-year-old Guarro Casas mill in Spain, the Quzhou mill in China and offices in France and Milan, bringing the total number of jobs saved to around 750.

The new company, Arjowiggins Group Ltd, will be based in Scotland and managed by a leadership under the guidance of current managing director Jonathan Mitchell.

He comments: “This is great news, not just for everyone at Arjowiggins but for the industry as a whole.

"The completion of the second phase of the MBO draws to a close an unsettling period for the business and we’re delighted to now be able to start a new chapter in the brand’s history.

The priority now is to continue the projects we have already committed to, strengthen our activities in a sustainable manner and identify future opportunities

“I’d like to extend my sincere thanks once again to our staff, customers, suppliers and the Scottish Government. Without their ongoing support this deal would simply not have been possible.

"Arjowiggins Creative Papers has world-leading brands and products and a talented team. There will be no major strategic change for the business.

"The priority now is to continue the projects we have already committed to, strengthen our activities in a sustainable manner and identify future opportunities for the sector."

The company was placed into administration in January following insolvency proceedings against its sister companies.

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