Jobs saved as German firm buys Bridgewater Paper unit

PART of the troubled Bridgewater Paper Company has been sold to a German firm, safeguarding 40 jobs.

Cheshire Recycling, a subsidiary of Ellesmere Port-based Bridgewater Paper, provides waste management solutions to local authorities around the UK.

Palm Recycling, part of the Palm Group a privately owned German group and a leading player in the European paper industry, has bought the business for an undisclosed sum.

Cheshire Recycling will continue to operate as a going concern, with all employees having transferring to the new owner.

Tom Jack, joint administrator said: “I am delighted to conclude the successful sale of Cheshire Recycling, safeguarding all 40 jobs and securing a future for this highly regarded business.

“I would like to thank everyone involved in the sale, and in particular the employees for their hard work and support.”

Production at the main mill was halted this week and a further 163 staff were laid off, bringing the number of staff affected by the insolvency to 271.