Fri, 08 Apr 2011 | ADMINISTRATION
Administration-hit printing company, Character DPM, has been successfully bought out of administration by ticket printing company, Magnadata Group Ltd.
The sale was orchestrated by Character DPM's administrators, KPMG, and saves 111 of the 173 jobs at the company, which first filed for administration in February this year. KPMG's Paul Flint said that Character DPM had real chances of being sold on from the very beginning, due to its firm reputation in the industry and a large and loyal customer base.
“The KPMG team has traded the business over the last six weeks in order to give the best opportunity for the business to move forward," he explained. "At times, given the prevailing economic climate, this has been problematic - however, the resulting sale is an excellent outcome."
Character DPM operated across sites in Bootle, Aintree and Warrington, with subsidiary Character Mailing Services running out of Stockport. The mailing services division was closed, however, upon the administration.
Magnadata is one of the world's leading ticketing companies, producing a range of security print products such as smartcards, RFID labels, baggage tags and magnetic tickets. It has operations in the UK, Australia and the USA.
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