Grangemouth staff facing an anxious wait over fate of their jobs

Employees were informed of the sale yesterday by Steve Coombe, chief operating officer, but a spokesman for the company said it was too early to give any assurances over jobs.

KemFine UK was put for sale by its parent company, Finland's KemFine Group, earlier this year.

It has been sold to Aurelius, a Munich-based industrial holding company, for an undisclosed sum. The deal is expected to complete over the "coming months".

When asked about jobs and whether all the workers would be kept on by the new owner, a spokesman for KemFine UK said: "At the moment it's early days. There are a number of conditions that are going to have to be met - that's not unusual. There's not going to be a final decision until the deal is completed."

KemFine UK manufactures chemicals for the agrochemical, pharmaceutical and speciality chemical sectors. It also provides a range of other services to firms based on the Grangemouth refinery site.

Coombe said in a statement: "We are delighted to have found a good home in Aurelius following a wide-ranging and rigorous sale process.

"Aurelius is a well-regarded industrial holding company that has demonstrated a long-term commitment to past acquisitions and has extensive experience of buying companies with potential for development.

"We are confident that Aurelius is best-placed to help us grow the business and look forward to working together in the future."

News of the sale came as the CBI released its latest forecast for the UK's industrial sector.

Despite growing storm clouds in other parts of the economy, the CBI said manufacturers were expecting production to "grow solidly" over the next three months while demand held up well in September.

Ian McCafferty, chief economic adviser to the CBI, said: "The outlook for manufacturing activity seems to have held steady this month.

"Demand is still considered to be better than it was in the first half of the year, export order books are holding up reasonably well and expectations for production growth in the coming quarter remain solid."

However, McCafferty warned inflationary pressures had picked up for the second month running.