A FORMER director of a well-established firm has stepped in to rescue the business saving more than 60 jobs.

Administrators for Startrite Designs Ltd, Menzies Corporate Restructuring, has just announced the company, based in Gillingham, has been saved.

It has been sold to a new company set up by the former director of Startrite, John Seaton. The new company is called Aerospace Tooling Ltd (ATL).

When Startrite Engineering Ltd, based in the Towns for more than 60 years, went into administration just before Christmas last year 30 people were made redundant.

The sale of the business which makes specialist machinery and tooling for the automotive, defence, aerospace and electronics industries, will secure the jobs of 64 employees.

The firm, based in Courtney Road, also has sites in Birmingham and Lincoln.

Menzies Corporate Restructuring partner Jason Godefroy said: “We’re pleased the sale of the business represents the preservation of a number of jobs.

“It’s also good to note of all the offers we received for the business from interested parties, ATL had the best funding package, not only to acquire the business but also to fund its future requirements.

“I believe this gives the business a chance to succeed, and go forward. We are hopeful existing contracts with customers will continue, putting the business on a strong financial footing.”

The business has been sold for an undisclosed sum.