Port Glasgow business, Moelle Interlok Packaging, has gone into administration with the company and its assets sold to McLaren Packaging in a deal that sees all 62 employees retain their jobs.
Brian Milne and Eileen Blackburn of accountants French Duncan were today appointed joint administrators of the business.
Moelle Interlock Packaging is part of the Germany-based Moelle Group and makes solid board divisions and layer pads used in a variety of industries.
The product is popular in the distilled spirit, drinks, glass, electronics and injection moulding, pharmaceutical and cosmetic industries.
Also based in Port Glasgow, McLaren Packaging is a family-run independent supplier of corrugated cases to the whisky industry with more than 150 staff and sales of more than £20 million.
The purchase means ownership of the producer has come full circle with McLaren having established it in 1985 before selling it in 1994.
The former Moelle Interlok Packaging Ltd, also in Port Glasgow, was acquired via newly formed company, Interlok Divisions Ltd.
Donald McLaren, managing director at premium drinks industry supplier McLaren Packaging, said:
“Interlok’s 100 per cent recycled product offers a cost-effective method of providing a reliable product protection solution during transportation and storage of fragile goods.
“Combined with a strong reputation for service and quality, due to the efforts of the experienced and dedicated workforce, it fits and complements the range of packaging solutions we offer to our customers.
“There are various synergies to be realised from this deal and, as such, we are delighted to bring home Interlok to its origins while safeguarding jobs vital to the local economy.”
Sandy Gibbons, managing director at Interlok, said:
“After working hard to secure a positive outcome for Interlok, I am delighted that McLaren Packaging is involved, bringing immediate stability and confidence for the future.”
Bran Milne, restructuring and debt advisory partner at accountants French Duncan, said:
“Moelle Interlok Packaging Limited has been loss-making for a few years, and its parent company was unwilling to continue to operate the business on that basis.
“We have managed to find an excellent buyer for the business and its assets which ensures the 62 staff will continue employment at the existing plant under the new owners.
“McLaren Packaging has 40 years of experience in the packaging industry, and this purchase will fit well with their existing business.
“It is a positive result that the business will continue to trade and that the employees have kept their jobs.”
For more information on McLaren Packing, click here.
This article appeared in The Insider on 5 February 2019.