A PONTYPOOL print works has been rescued after going into liquidation last year - with nearly 100 jobs being saved in the process.

Irish entrepreneur John Mooney has bought the assets of Mid Wales Litho (MWL) and is taking on most of the 113 workers who lost their jobs when the company went into liquidation in 2014.

The £1.7 million investment by Mr Mooney - who already runs two print businesses in Wales - has been backed by £960,000 from the Welsh Government which ensured the MWL assets remained in Wale. Nearly 100 former staff will be taken on, it has been confirmed.

Mr Mooney has acquired the plant and machinery of MWL, invested in a new printing press, taken a lease on the former MWL facility in Pontypool, and has already taken on 50 former staff since the beginning of November, with plans to increase the headcount to 96 in total.

The Pontypool site will be incorporated into Zenith Media, a business he previously acquired from administration with Welsh Government support.

Mr Mooney said: “We are very pleased to continue to invest and grow our presence in Wales increasing the numbers employed to in excess of 230 across our Welsh businesses. We have found the people we have employed to be a highly skilled and motivated workforce.”

Economy Minister Edwina Hart said: “I am delighted that Welsh Government support secured this investment for Wales as there was a real possibility the assets could have been transferred to another litho print operation in the UK.

“This is really good news for Pontypool, for the local economy and especially for those people who lost their jobs. This latest investment is very welcome and it’s great news that these jobs have been created so swiftly.”

Zenith Print and Packaging has a worldwide customer base and the re-start of Pontypool will enable the group to provide a one-stop shop service for all print and packaging needs.

The business carried out work for the 2012 London Olympics and has many clients in the UK and throughout the world.