150 jobs saved at stationery firm

Setten and Durward will now be known as Setten IXL

The jobs of 150 workers at an office stationery firm in Powys have been saved after it was bought by another company.

Setten and Durward in Llandrindod Wells had been looking for a buyer since going into administration in February.

The company has been bought as a going concern by ZCOM Limited, which will run the new business as Setten IXL.

It manufactures ringbinders, lever arch files and boxfiles and is one of the largest employers in the town.

Rob Lewis of administrators PricewaterhouseCoopers said: "We are very pleased to be able to announce the sale of Setten and Durward, which ensures a well-respected local company can continue to trade into the future and over 150 local jobs have been secured.

"The sale was completed following an eight-week period of trading in administration, throughout which we were delighted by the support of the employees, customers and suppliers and I would like to thank them for their help throughout this very difficult time."

'Threatened jobs'

Alan Morris, the new managing director of Setten IXL, said Setten and Durward had "gone through major upheaval and what we must do now is work hard and be positive for the future".

Kirsty Williams AM for Brecon and Radnorshire welcomed the buy-out.

She said: "It is great news that the factory has been sold and that manufacturing will continue in Llandrindod Wells saving the 150 threatened jobs.

"The factory has a record of producing a strong and successful product and I hope it will now be able to move forward from the difficult past months to thrive as a successful mid Wales business."