Redundant staff unite to buy firm

A group of workers and managers have pooled their redundancy payments to fund an employee buyout of NCR’s former metal parts operations in Dundee. The business had been earmarked for closure by the Canadian firm in January this year. Texol Technical Solutions has been formed by 78 workers and three managers from the former NCR […]

A group of workers and managers have pooled their redundancy payments to fund an employee buyout of NCR’s former metal parts operations in Dundee.

The business had been earmarked for closure by the Canadian firm in January this year.

Texol Technical Solutions has been formed by 78 workers and three managers from the former NCR business, which employed 170, through a £400,000 buy-out.

The company, which specialises in making metal parts for automated teller machines, has secured a three-year contract to supply its previous owner. New business will come from selling its expertise in rapid prototyping of metal parts. Texol aims to break even in the first four months.

The employee team has tailored the business by outsourcing its finishing operations. Overheads have been cut by reducing supervision of workers and extending teamworking and cellular manufacturing.