Two of the longest serving business owners in the region have handed over the reins of their manufacturing company to its staff.
Paul and Isobel Schofield have run international industrial products business Union Industries for over 40 years.
They used the Government-backed Employee Ownership initiative to secure the future of the Leeds-based company.
Mr Schofield said: “We wanted to ensure the company we started all those years ago continues beyond our lifetime, for the benefit of our employees and our customers.
“We are very proud to have built a successful and quality Yorkshire manufacturer that has its future well and truly secured.”
Andrew Lane, managing director of Union Industries, said: “The staff have been gifted a jewel of a company and they will come together to continue the legacy created by Mr and Mrs Schofield and build on their outstanding achievements.
“Employee ownership empowers those involved and is a wonderful way to drive a business forward and collectively continue its success.”
A champagne reception was held on the company’s cobbled courtyard to mark the handover yesterday, with staff forming a guard of honour outside Union Industries’ Angel’s Wing fac- tory.
Mr and Mrs Schofield also unveiled a commemorative stone on an outside wall of the factory.