Dozens of jobs saved at Llanelli site of top company Dividers Modernfold
TWENTY-NINE jobs have been saved at a Llanelli firm.
Dividers Modernfold, based at the business park in Dafen, is one of Europe's leading manufacturers of movable walls.
Workers at the site can now breathe a sigh of relief after a deal was made this week by BDO LLP business restructuring partners Graham Randall and Simon Girling.
The joint administrators secured the sale of the business and assets as a going concern to Dividers Folding Partitions Limited.
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All employees have been transferred to the new owner.
Graham Randall, BDO business restructuring partner, said Dividers Modernfold had been a "fundamentally profitable company" but was exposed to financial difficulties at other group companies in Europe, making it "necessary" to restructure the business as a safeguard.
"I am delighted that all jobs have been saved with the transfer of staff to Dividers Folding Partitions Limited and the business can now move forward on a secure financial footing."
Dennis Lewis, director at Dividers Folding Partitions Limited, added that the separation of the business would "enable management to concentrate on maximising market opportunities".
"We are delighted to be able to secure the future of the business with minimal disruption," he said.
Llanelli MP Nia Griffith said she was "glad" to hear jobs had been saved in the town, but added: "What we really need now for companies like this, which makes doors and partitions used in schools and hospitals, is a clear commitment from government to continue with the schools building programme."