A SELF-MADE millionaire who said he had been forced out of the company he helped create has been found dead at his new factory.

The body of Ashley Renham was discovered by a member of his family at Middleton Miniature Mouldings, in Barnard Castle.

Police said last night that there were no suspicious circumstances.

Mr Renham, 58, of Lartington, near Barnard Castle, was last year controversially voted off the board of his previous company, Renham and Wade, which makes injection-moulded parts for medical and pharmaceutical companies.

Following his removal from the board, Mr Renham set up Middleton Miniature Mouldings, which operates from a unit on Harmire Enterprise Park, in Barnard Castle.

Mr Renham vowed to bounce back after his departure from Renham and Wade, which he founded in 1983.

In 2003, he agreed to take a back seat in the day-to-day running of Renham and Wade.

Although he kept 45 per cent of the shares in the company, he gave the remaining 55 per cent to three employees.

In August last year, the three board members decided to make Mr Renham redundant having called an extraordinary general meeting at the company's headquarters in Middleton-in-Teesdale.

Mr Renham said he was forced out of the company along with business partner Norman Wade.

He was due a substantial severance payment, but instead of cash, he set up a new business and negotiated to take over one of Renham and Wade's most lucrative contracts, making hearing aid parts for a Dublin company.

Renham and Wade changed its name to RW Injection Moulding.

Mr Renham set up Middleton Miniature Mouldings to produce small components for the medical and pharmaceutical industries.

He also set up AJR Developments, which was researching new products, including a sheathless condom, a satellite navigation system for aviators and a system of music notation that makes playing and reading music easier.

Mr Renham had threatened to take out legal proceedings against members of the board at RW Injection Moulding, but the case was dropped.

He was a lively figure in Teesdale and was well-known for having a former Royal Navy Gazelle helicopter, which he piloted himself and often landed in Middleton and at his home in Lartington. He often gave flights in his helicopter to raise money for local causes.

Mr Renham, who is originally from Kent, is survived by four daughters.

Ann Nettleton, a friend of Mr Renham's and landlady of the Blacksmith's Arms, in Mickleton, where he used to drink, said: "He was in here last Monday.

"He was in good spirits and as kind as ever."

Robert Wall, a friend of Mr Renham's from Lartington, said: "He moved into the village a couple of years ago and became a member of the community. People used to know him flying in and out of the village. He was well-liked and a gentleman."

Kevin Maw, the managing director of RW Injection Moulding, said: "Ashley did a lot to help set up this company and I respect him for that.

"It is a terrible, tragedy and everyone at the company who knew him is completely shocked and saddened."

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