JOBS in Leyland could be created following the split of one of the town's companies from Acertec Engineering.

A management consortium from Norlec Engineering, based at Moss Side Industrial Estate, in Leyland, has successfully bought the company from their previous owners based in Solihull.

The buy-out was engineered by Norlec's managing director, John Haworth, heading up a management consortium team of three, with backing from Lloyds TSB Commercial Finance.

Mr Haworth said: "With direct local management we can be a successful and profitable employer to our 140 staff and provide further attractive employment opportunities in the area."

With a turnover of more than £6m, Lloyds TSB say they see a successful future ahead for the new team.

Regional director of Lloyds TSB finance, Mike Scowen, said: "The business has a dynamic management team and ambitious growth plans for the future. We were pleased to be the sole provider of finance to the Management Buyout Team."

Norlec Engineering manufacurers precision sheet metal components, fabrications and assemblies for equipment manufacturers.

The business has been established for 27 years and was privately owned until 1987 when it was sold and became part of Acertec Engineering.