A PROPOSED merger will see the end of a famous local company name -- after 169 years.
Charles Turner & Co of Springside Mills, off Belmont Road, Bolton is set to merge in May with Kruger Tissue Industrial, a UK subsidiary of Montreal-based Kruger Inc.
The new 50-50 company, which will have a combined turnover of £44 million, will assume the name Kruger Tissue Industrial and will have its head office in Bolton.
Mr Nigel Samuel, who is currently Chairman and Chief Executive of Charles Turner, will become Chief Executive of the new KTI.
He said today that it was a "great move" after two difficult years caused by the economic situation.
"We are very confident about the future," he said.
The merger makes KTI a major player in the manufacture and supply of soft tissue and towel products to the UK "Away-From-Home" sector -- washrooms in locations such as companies, hotels and airports.
Charles Turner & Co, which manufactures and converts tissue, currently employs 206 people at Springside Mills.
The new company will also have converting and logistic operations at Penygroes in North Wales, where there are 185 workers.
Mr Samuel said: "We do not anticipate any job losses."
He said there were future opportunities to create a very strong business and this could include acquisitions of smaller competitors.
Mr Samuel said the new deal would take KTI into fourth place in a league table headed by Kimberly Clark and Georgia Pacific.
Kruger Inc in Canada has a worldwide workforce of 15,000. Kruger Tissue Industrial is one of three UK subsidiaries. Mr Samuel acknowledges the history associated with the Charles Turner name since 1834, but he thinks a line should now be drawn in the sand.
"I think Charles Turner should be remembered for all the good things associated with the business, but this is a new era," he said.
In 2000 Charles Turner invested £9 million in an expansion programme which included an Italian tissue machine.
It represented the most significant investment in the company's long history and former Tory leader William Hague unveiled a plaque.
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