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.
The Secretary of State for Scotland has commented on the news that Scottish Borders engineering firm, Border Precision, has brought in administrators.
The 37-year-old firm employs 180 people at the 80,000 square foot factory in Pinnacle Hill Industrial Estate, Kelso.
A Scottish Borders engineering company, known as one of Scotland's leading engineering firms, has entered administration.
25 people are being made redundant at Border Precision Ltd, based in Kelso.
The company is now being managed by Rob Caven and Stuart Preston, of Grant Thornton UK.
The 37-year-old firm employs 180 people at the 80,000 square foot factory in Pinnacle Hill Industrial Estate.