A PIG breeding firm in Ryedale which went into receivership has been given a new lease of life after a buyout.
Newsham Hybrid Pigs, of Amotherby, and JSR Healthbred, of Driffield, have joined forces and formed another company, under the name JSR Newsham. The new firm will market advanced pig genetics in the UK and Western Europe and expects a turnover of £11m a year.
Gail Rowley, from JSR Newsham, said though no jobs would be created, the news did secure existing jobs.
"JSR Newsham is primarily a marketing company which will sell pig semen in the UK and Western Europe," she said.
Newsham Hybrid Ltd went into administrative receivership in October, creating fears that there would be jobs losses, but earlier this month JSR Healthbred stepped in and bought the company. The new firm will be based at JSR's Southburn Offices in East Yorkshire with Ian Brisby as managing director.
Tim Rymer, chairman of JSR Farming Group, said: "This is a very exciting development for us all. We aim to combine the very best of both companies in genetics, health and pig production expertise to deliver better value to our customers."
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