BOSSES of a firm that distributes industrial products have completed a management buyout.
LC Automation, of Blackburn, is now owned by managing director Malcolm Chadwick and directors Peter Stott, Phil Dowell and Paul Catherall.
The business, on the Shadsworth business park, increased turnover by 25per cent last year after targeting growth industries.
The buyout followed the retirement of the former owner.
Mr Chadwick said: “The buyout ensures the company remains in the hands of the people who know it best, and allows us to continue to expand and diversify the business.”
“A strong industrial base is essential for the country’s economy, and LC Automation can be at the heart of cutting-edge technology, creating a new golden age for manufacturing in Lancashire and beyond.”
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