Northern packaging group Baird has acquired the assets and business of John Cleland & Son, the Carryduff-based packaging firm, for an undisclosed sum. The business will become part of Baird's MSO firm in Belfast.
The enlarged MSO will have sales of some £18 million sterling (€29.2 million). "Printed packaging is an important part of our activities and we have been actively seeking an acquisition for our group packaging company, MSO of Belfast," said Mr Roy Bailie, Baird's chairman. "There are obvious synergies between both companies and this development will strengthen MSO's market position and provide economies of scale." Cleland, which has been in receivership, employs 110 people while MSO employs 129.
"The only negative trend, both for MSO and the Baird group as a whole is the effect of the strength of sterling on our trade with the Republic," he said.
The acquisition has been welcomed by the Graphical Paper & Media Union. Secretary Mr Andy Snoddy said: "At least we now have a chance to save some of the jobs at the company's plants in Portadown and Carryduff." But he said the recent rise in bank rates "can only put more pressure on an industry such as ours, which is so dependent on exports".
Mr Bailie said the group was seeking acquisitions in the Britain. The aim, he added, was to increase group turnover to £60 million within the next 12 months.
