Borders engineering company saved

An engineering firm in the Scottish Borders has been saved from administration after a management buyout.

Borders MSP "delighted" with company buyout

Ettrick, Roxburgh and Berwickshire MSP John Lamont has expressed his "delight" at the news that Borders Precision Engineering has been saved from administration.

“This is great news for Kelso and all of those who are employed by Borders Precision Engineering. There were serious concerns at the beginning of the year that the company would cease to operate, but this management buyout should guarantee the future of the business for years to come.

“I am delighted that the buyout will result in all of these jobs staying in Kelso, and it is a real show of faith in the skills of the workforce that we have here in the Borders.

“While it is disappointing that some staff have already been laid off over the last few months, I know that those still working for them will be relieved to still be in a job.

"This must have been a worrying time for them and their families and I hope that this will at last give them some financial security.”

“Over the years Borders Precision Engineering has become renowned for its high standards of excellence. I am delighted that they have the chance to continue this good work and I hope that they will continue to operate for many years to come.”

– John Lamont MSP, Ettrick, Roxburgh and Berwickshire

Borders engineering firm saved from administration

An engineering firm in the Scottish Borders has been saved from administration after a management buyout.

Borders Precision Engineering has been bought out by twenty local investors who have committed a six-figure sum to keep the company in business, and 80 jobs have now been saved.

The Kelso firm was founded in 1976 and produces medical instruments and parts for the military.

Several employees were laid off when the company entered administration in January.

Advertisement