Around 50 jobs in Lisburn have been saved after Canadian distributor Finning International bought the assets of NI dealer McCormick MacNaughton from the administrators.

Finning has taken over as the Caterpillar dealer for Northern Ireland in a deal worth approximately £3.1 million.

Mike Waites, President and Cheif Executive Officer of Finning, said: "We are very pleased to add this neighbouring territory to our established UK operations.

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"We will be able to leverage our existing infrastructure and service expertise to complement our UK dealership. Being awarded the dealer territory for Northern Ireland speaks highly of Finning's relationship with Caterpillar."

McCormick MacNaughton went into administration in June this year after suffering financial difficulties.

"As part of this agreement, we acquire an active power systems portfolio, as well as access to opportunities in construction. We look forward to providing unrivalled service to customers in our new territory," said Neil Dickinson, Managing Director, Finning UK.

(CD/BMcC)