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New Freezer Company Rises From The Ashes
John G Russell (Transport) Limited announced today (13 September 2005) the completion of the purchase of the assets of Norfrost Limited. The combination of a business loan package from Highland Opportunity Ltd., coupled with grant support from Caithness and Sutherland Enterprise enabled the organisation to put together a financial package that was acceptable to the administrators KPMG

In doing so they have formed a new company, Icetech Freezers Limited to operate the freezer manufacturing facility, in which local Directors have acquired a minority interest.

The sale, which secures the jobs of all 94 staff, will see the business continue to operate from their current site at Castletown, near Thurso, Caithness.

The company which manufactures commercial and domestic freezer and refrigeration appliances had an annual turnover last year of �13m, is widely recognised as the leading manufacturer of chest freezers in Europe, with a wide customer base including some of Europe�s leading retailers.

New Icetech Freezers Ltd., Chairman John Russell said: �I am pleased that we have managed to reach a positive outcome after what has been a difficult few months. The loyalty and professionalism shown by management, staff, customers & suppliers has been very encouraging, and I�m confident we shall continue to build on our existing customer base and production efficiency. I would like to thank both Caithness and Sutherland Enterprise and Highland Opportunity, for the tremendous support they have given to the new company�

Highland Opportunity Company Manager David Owen commented "we felt that this was an important business to support not only from the perspective of jobs maintained in the area but also maintaining a manufacturing capacity in the Highlands and, in fact, Scotland".

Caithness and Sutherland Enterprise Chief Executive, Carroll Buxton indicated that she is delighted to support the new company Icetech Freezers Ltd. Along with Highland Opportunity Ltd., our support will help to secure a significant number of jobs in the area. We welcome this investment in the area by John G Russell (Transport) Ltd.