Walstead Group takes YM Group assets


Walstead Group takes YM Group assets

Walstead has acquired most of the assets of YM Chantry, York Mailing and Pindar (Scarborough) from its YM Group’s administrators. The three affected YM Group subsidiaries had made 512 staff redundant after failing to find a buyer on a going concern basis.

Walstead says it will deploy most of the equipment in its existing plants across Europe, with certain items of finishing equipment transferring to its UK plants. It added that it is open to operating some equipment from one former YM Group plant if there is sufficient demand from customers. However, this would only be the case if the work could not be handled in Walstead’s existing faciltities in the UK.

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