Buy-out saves 50 jobs in Lisburn
- Published
More than 50 jobs have been saved in Lisburn after a company which sells construction and marine equipment was bought over by a Canadian firm.
McCormick MacNaughton went into administration in June after suffering financial difficulties.
Its assets have been bought by Finning International for £3.1m.
Finning will take over from McCormick MacNaughton as the official supplier of Caterpillar equipment in Northern Ireland.
Finning is the largest distributor of Caterpillar machinery in the world.
It employs 1,500 people in the UK with an annual turnover of £318m.
'Leverage'
Mike Waites, President and CEO of Finning, said that the company was pleased to add Northern Ireland to its established UK operations.
He added: "We will be able to leverage our existing infrastructure and service expertise to complement our UK dealership.
"Being awarded the dealer territory for Northern Ireland speaks highly of Finning's relationship with Caterpillar."
Lagan Valley MP Jeffrey Donaldson has welcomed the announcement.
"It's good news that here we have a company that went into adminstration and has come out the other end; that is unusual," he said.
"More often than not, companies that go into administration sadly don't reopen again.
"It gives hope to other people who face the prospect of redundancy that there is still the prospect of keeping your job."
- Published16 June 2010