Plastic injection moulding company Yorkshire Moulds Ltd has been sold as a going concern - with no job losses.

The Brighouse firm, which had been in administration, has been acquired by an executive management team made up of three of the firm's existing employees and two directors from outside the industry.

The company, which will trade as Yorkshire Moulds UK Ltd, is expecting turnover in its first year to exceed £5 million, with almost 30 per cent of this from exports.

Joint administrative receivers Grant Thornton continued trading the business following its appointment on June 17.

The company, established in 1947, has 78 employees and specialises in the design and manufacture of confectionary moulds, trays and plaques.

Gordon Elliott, chairman and financial director of Yorkshire Moulds UK Ltd, said: " I am very confident that our team, comprising existing operations experience supported with new financial, contractual and administration expertise, will enable a seamless transition from the perspective of customers, employees and suppliers alike.

"We will be introducing development initiatives, along with tight financial controls and continued investment to ensure future success."

Mike Saville, of Grant Thornton, added: "It is always pleasing to achieve a sale as a going concern, protecting the employment of a skilled workforce and the interests of the customers in a niche market.

"I wish the new management team every success in the future."

The new management team is: Gordon Elliott, chairman/financial director; Graeme Fawcett, legal, administration and management director/company secretary; Andy Hinsley, manufacturing operations director; Roy Shephard, sales and marketing director; and Peter Whitworth, commercial operations director.