Administrators from KPMG Corporate Recovery are pleased to announce that they have completed the sale of Norfrost Limited to John G Russell (Transport) Limited.
The sale, which secures the jobs of all 94 staff, will see the business continue to operate from their current site at Castletown, near Thurso, Caithness.
The company which manufactures commercial and domestic freezer and refrigeration appliances had an annual turnover last year of £13m, will now be known as Icetech Freezers Limited.
Blair Nimmo, Head of KPMG Corporate Recovery in Scotland and Joint Administrator said:
“I am delighted that we have managed to sell the business as a going concern. Not only has this saved all 94 jobs, but the sale also ensures that existing customers will continue to be serviced and that suppliers will have ongoing business.”
“Since our appointment on the 19th May 2005, the commitment on the part of employees, customers and suppliers in working with us to preserve the business has been exceptional. We would also like to acknowledge to the support shown by Caithness and Sutherland Enterprise and Highland Opportunity”
Nimmo adds: “The business is a crucial part of the Highland economy and a key employer in the local area, so this represents a fantastic result. We wish them every success in the future”
Chairman of John G Russell (Transport) Ltd., John Russell said:
“I am pleased that we have managed to reach a positive outcome after what has been a difficult few months. The loyalty and professionalism shown by management, staff, customers & suppliers has been very encouraging, and I’m confident we shall continue to build on our existing customer base and production efficiency.”
From Creditman