Newton-le-Willows company

ONE of the leading lights in the security unit business - which has a factory in Newton-le-Willows - has been the subject of a management buyout.

Bosses at manufacturers Lydney have confirmed that it will continue to trade from its 80-strong site on the Vulcan Industrial Estate, in Wargrave Road, and main base in Gloucestershire following the takeover.

Formerly part of the Peterhouse Group, the only internal change is the appointment of Paul Beckett as chief executive.

Management is eager to introduce new product lines and has not ruled out expanding in the near future.

Plans are already in place to enlarge the company's repair and refurbishment arm for clients.

Stuart Fordyce, managing director, said: "Now that this business is independent we can focus on the most important part of it - the customer."

Turnover at the enterprise, which makes a range of portable steel accommodation and anti-vandal storage containers, has reached £15 million.

And the National Prefabricated Building Association estimates it has a near 40 per cent share of the steel security market.

Established in Gloucestershire in 1983, Lydney took over Conway Products anti-vandal division, bringing the Vulcan factory into the fold.