RK Timber Ltd has acquired the Hartlepool-based timber engineering division of FJ Reeves (Northern) Ltd from receivers for an undisclosed sum.
The move, which saves 30 full time jobs, follows Arnold Laver‘s purchase of Reeves’ South Shields merchant depot from receivership (TTJ July 24/31).
Lancashire-based RK Timber said its acquisition, which manufactures roof trusses and has a significant joinery business, will now trade as RK Timber (North East) Ltd.
The company said the purchase has allowed it to expand in the north-east, where it previously did not have a significant presence, and will increase its roof truss production capacity.
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“Despite Reeves’ recent financial problems, the fundamental business is sound and the company has an excellent workforce” |
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Roland Nightengall, RK Timber commercial director |
Roland Nightengall, RK Timber’s commercial director, said the purchase was part of the strategic development of the company.
He said: “Despite Reeves’ recent financial problems, the fundamental business is sound and the company has an excellent workforce.”
More than 50 jobs were saved when Arnold Laver bought the South Shields depot of FJ Reeves from receivers the P&A Partnership.
