The Walstead Group has acquired “the majority” of the assets of YM Group’s web offset business.
In March, YM Group placed 3 of its subsidiaries, YM Chantry, York Mailing and Pindar (Scarborough), in administration, with 512 staff made redundant.
While Walstead’s chairman, Mark Scanlon said that much of the equipment will be moved to its existing plants, there was a possibility that one site could be reopened.
“On 4 May 2022 Walstead Group acquired all the production assets of the insolvent YM Group companies at Scarborough and York and certain equipment a the Wakefield site,” he said in a statement.
“The presses will be used primarily at Walstead’s existing plants across Europe with some finishing equipment being utilised in the UK.
“We will consider the possibility of operating some equipment at one of these sites if there is sufficient demand from customers. The task now is to understand the market requirements for future volumes which cannot be produced in Walstead’s other UK facilities and whether any surplus would justify restarting additional capacity.”
Walstead UK, was previously known as Wyndeham Group and is the largest commercial web-offset printing business in the country. A subsidiary of Walstead Group, it employs 800 staff mainly across the Midlands and South of England.
