More than 80 jobs have been saved at one of the Canterbury's area's oldest firms which had been plunged into administration.

The future of the 250-year-old Chartham Paper Mill was thrown into doubt in January when insolvency proceedings were lodged against its French parent company Arjowiggens and Sequana.

But now a successful management buyout has been negotiated, covering Arjowiggins Chartham as well as Arjowiggins Fine Papers, which has the Stoneywood paper mill in Aberdeen and an office in Basingstoke.

The business will now be led by an eight-strong leadership team headed up by current managing director Jonathan Mitchell.

“The last nine months has been an unsettling time for the company and we are extremely grateful to the administrators, FRP Advisory, for having allowed the business to continue to trade while we found a workable solution," he said.

"The support we have had from our staff, customers, suppliers and the Scottish Government has been incredible and without them this deal would not have been possible. There has been a real combined will to keep this historic business alive.

In total the new company will employ 559 staff - 82 at Chartham but the majority based in Aberdeen where the iconic Conqueror brand is manufactured.

The business will now be led by an eight-strong leadership team headed by Mr Mitchell.

"Arjowiggins Creative Papers has world-renowned market-leading brands and products and a passionate and talented team, " he said.

"We are looking forward to taking steps to further strengthen the business and continue to provide first class products and customer service to our clients."

The deal has been financed by Shawbrook Bank and SQN Asset Finance Income Fund as well as a number of strategic customers. Significant financial backing has also been received from national economic development agency Scottish Enterprise.