More than 550 workers at Enron Teesside Operations Limited (ETOL) will transfer to a new company, ending months of uncertainty for the workers on Teesside.

ETOL's assets have been bought by SembCorp Utilities, from Singapore, in a £83m deal.

ETOL owns most ot the Wilton Internationl complex on Teesside and provides utilities and services to Wilton and to North Tees and Billing chemical industries. ETOL was put on the market after Enron collapsed almost 18 months ago. ETOL continued to operate as a business because it was profitable.

The workers will transfer under their present terms and conditions to the new owners.

The news is expected to have a positive impact on Teesside and possibly generate more investment.

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