TWO recycling companies have been bought by their management.

Waste Tyre Solutions (WTS) and Automotive Waste Solutions (AWS) were both part of the Environmental Waste Solutions Group, of Newton Aycliffe, which went into receivership last month.

The management buy-out secures the future of both companies and paves the way for future expansion and growth. The companies employ about 50 workers between them.

However, a third company, Colway Tyres, of Langley Moor, Durham, is not part of the buy-out. That closed last month with the loss of 112 jobs.

The buy-out team is led by chairman Rod Templeman, with Michael Fishwick as managing director.

The other members of the team include Graham Cheesbrough as finance director, Graham Gibson as commercial director and logistics director David Bavaird.

Mr Fishwick said: "I see this as a tremendous vote of confidence in the ability of the WTS and AWS teams to deliver a continued high quality, high integrity service to our customers.

"The motor industry is coming under increased scrutiny from ever stringent environmental legislation and our role is to work with our customers to offer a cost-effective, pro-active and fully compliant method of waste disposal, enabling them to get on with their real jobs."