AN East Lancashire company has purchased the intellectual rights of a main competitor and announced the possibility of new jobs being created.

Emerson and Renwick completed the deal with The Fin Machine Company at the end of last month.

The Church company, which was established in 1918 is a leading manufacturer of production machinery, has said that between 10 and 15 jobs could now be created and that its site could be expanded.

The company employs 115 people in Church, with a further 12 in the USA and four near London.

The Fin Machine Company will now operate as a division of Emerson and Renwick which now have rights to its proprietary products, the supply of spare parts and service and machine upgrades.

Emerson and Renwick has been trading in the automotive sector in competition with The Fin Machine Company for the last 23 years.

Colin Hargreaves, executive chairman of Emerson and Renwick, said: “This is an important and strategic deal for us.

“It could create between 10 and 15 jobs and we will be looking to extend our Church site.

“More jobs could be created but that depends on what happens in the future.”

A company spokesman said: “In addition to the intellectual property which includes the company name, logo and website, Emerson and Renwick also purchased a substantial amount of stock which will help maintain spares business for existing customers.

“The data included all the relevant information from the very first machine manufactured to the latest products, along with all mechanical tooling and electrical designs.

“It is the company’s intention to open a design and service centre based in the North East of England as Phase two of this important acquisition.”