Pheonix rises from the ashes

A SCOTTISH chemicals plant is to rise from the ashes after former bosses of failed Phoenix Chemicals bought the factory from administrators.

Bakhu Pharma, a company headed by former Phoenix chief executive Colin Leece, announced a "last-minute rescue" of the factory near Annan, Dumfriesshire, yesterday.

Merseyside-based Phoenix bought the plant in 2009 with the help of a Scottish Government grant of 400,000 but went into administration early this year, with redundancies leaving only a skeleton staff.

Bakhu, which has financial backing from the UK and Singapore, intends to employ about 40 staff.

The factory has had a troubled three years since its Indian owner, Shasun Pharma, announced plans to close the plant in October 2008 as it was "no longer viable".