Question reference: S5W-25515
- Asked by: Gillian Martin, MSP for Aberdeenshire East, Scottish National Party
- Date lodged: 25 September 2019
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Current status: Answered by Jamie Hepburn on 3 October 2019
Question
To ask the Scottish Government whether it will provide an update on the proposed management buy-out at the Stoneywood Paper Mill in Aberdeen.
Answer
I am pleased to advise that, on 25 September 2019, the joint administrators of Arjo Wiggins Stoneywood paper mill announced a successful management buyout. This was a positive conclusion to the sale of this historic mill.
The Scottish Government has been working extensively with the administrator, the management team, UNITE union and our partners throughout this process to secure the best possible outcome. In addition Scottish Enterprise has agreed a funding package of £7m to support the management buyout.
Our priority now is to work closely with the new owners, alongside our partners, to help shape a sustainable business that secures employment into the future which will ultimately benefit the local economy and wider North East economy.