South Scotland

Lockerbie and Burton-upon-Trent tile plants sold

A tile firm employing 100 people in Lockerbie and Burton-upon-Trent has been sold in a £13.6m deal.

Russell Building Products (RBP) has bought Russell Roof Tiles, the building products division of Cemex UK.

Cemex announced this year it was seeking to dispose of all non-core assets.

A spokesman for accountants PKF, who advised on the deal, said it would secure the future of both the Scottish and English plants.

Partner Jeff Harris said: "RBP plans to continue to invest in both locations and this will hopefully create more jobs in due course.

"This was a complex transaction that required special funding arrangements because of the planned factory improvements in Burton.

"PKF developed a close working relationship with RBP's management team and financiers in order to agree a deal that will help the business to grow both now and in the future."

UK business director Andrew Hayward, formerly of Cemex who will manage RBP on a day-to-day basis, described it as a "major boost" for "employees, customers and vendors".

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