Wrightbus sale agreed in principle
Jo Bamford "delighted" at conclusion
Last updated 11th Oct 2019
English industrialist Jo Bamford has announced he has agreed a deal in principle to buy the Wrightbus factory and associated lands in Ballymena.
The issue had been the sticking point in the way of Mr Bamford completing the overall purchase of the administration-hit bus builder.
"We are delighted to announce that this morning I have agreed terms on a deal in principle with the Wright family for the Wrightbus factory and land,'' said Mr Bamford.
"We are still to conclude a deal with the administrators but are pleased to report this important step in the right direction. I would like to thank Ian Paisley MP for his hard work and diligence in helping to mediate what has at times been a tricky negotiation."
A statement from Jeff Wright's representative confirmed the deal.
"Following intensive overnight negotiations between the two parties agreement has been reached in principle over the sale of Wrightbus to Ryse Hydrogen (Mr Bamford's company),'' it said.
"The two men at the centre of the deal, Jeff Wright and Jo Bamford, say the outcome of the negotiations involved pragmatism in arriving at an arrangement which is ultimately in the best interests of the long-term sustainability of the bus manufacturing business and jobs in the Ballymena area. The two businessmen confirmed that the Wrightbus factory has been saved from liquidation with Jo Bamford as the new owner of the business."
Mr Wright said the council had confirmed the lands would be used for a proposed innovation centre for manufacturing start-up companies.
"I believe the presence of this centre on the Wrightbus legacy land will send a clear message to Northern Ireland and beyond that Ballymena has a strong future in advanced manufacturing,'' he added.
The Mid and East Antrim Borough Council estimates that the legacy of the site and the new investment would result in 2,460 jobs with the potential to rebuild Ballymena. It also has ambitious plans to secure one of the 'Heathrow Hubs' for the town which would see a further 5,000 engineering and manufacturing jobs for the area. The new innovative Hubs are to be used to pre-assemble components of the expanded airport before transporting them to Heathrow.'