UNION bosses have expressed delight at the takeover of Watson Steel.

News that the jobs of more than 450 workers were to be secured at the Lostock-based firm was announced "out of the blue" they said.

But in discussions with Watson management yesterday, union bosses were happy that the future of the plant had been secured.

Local GMB branch secretary Barry Montgomery said: "The manufacturing sector has been badly hit in recent times so this announcement really is good news.

"The workers are over the moon because there was big concern about the firm's position.

"It had been hit by redundancies and shift changes and the workers really needed stability.

"All indications are that the company will remain in Lostock -- it's wonderful, wonderful news."

One member of the work force said: "This is really good news. The future looked bleak and we didn't think things would be good into next year but now we are much more positive."

The deal was wrapped up following all-night negotiations between the buyer S R Structures Ltd and Watson Steel.

The £2.5 million purchase of the company was announced to jubilant workers yesterday.

It came as Watson's parent company AMEC decided the firm was a "non-core" interest which would be better farmed off elsewhere.

AMEC's intention to sell was no secret -- it had entered negotiations with Bury manufacturer William Hare earlier in the year, a deal which later collapsed.

Watson Steel is one of the UK's largest constructional engineering companies and was established in 1933.

It worked on the Millennium Dome and The Big One in Blackpool, specialising in the same core business as Severfield-Rowen, the owners of S R Structures.