Scottish Enterprise chief executive welcomes management buy-out of Arjowiggins
Steve Dunlop, chief executive of Scottish Enterprise, has welcomed news today (Wednesday 25 September) that the management buy-out of Aberdeen paper mill Arjowiggins has been concluded.
The deal been supported with £7m funding from Scottish Enterprise, which has worked for several months with administrator, the new owners and all stakeholders to help secure this positive outcome.
Steve Dunlop said: “I’m very pleased that the management buy-out has been agreed and that a future has been secured for the business and its skilled employees. This result is the culmination of nine months of hard work from everyone involved and I’d like to congratulate all parties on reaching this milestone. This is an excellent example of teamwork and determination paying off.
"We will now work with the new owners as they continue their proud legacy in Aberdeen and develop their plans for the future.”
Read the full press release here.