MORE than 300 factory jobs have been saved in the region following the £3.6m buyout of a door manufacturer.

Home Doors GB, in Peterlee, County Durham, is a subsidiary of West Midlands-based BHD, which was placed in the hands of receivers from KPMG last month.

Last night, receivers Myles Halley, Richard Fleming and Mark Orton, of KPMG Corporate Recovery, confirmed the sale of Home Doors, as well as sister companies Houseproud, in Tamworth, and a conservatory roofs division in Aldridge, both West Midlands, to Laird Group.

BHD Flint, based in Flint, North Wales, was the subject of a management buyout.

The two sales have saved more than 550 jobs - the majority of them in Peterlee.

Richard Fleming, joint administrative receiver said: "We are delighted to have completed these sales and in doing so, helped to save a number of important local jobs.

"We wish both purchasers every success for the future and hope they are able to build upon their existing relationships in the home improvement market place to continue to develop the businesses further."

Fears were raised for the Peterlee jobs last month when sister company Portland Conservatories, in Manchester, was closed because no buyer could be found, with the loss of 70 jobs. Receivers said from the start that they could not rule out job losses.

Possible redundancies have been under review for the past month.

BHD was a conglomerate founded in 1984 to supply the home improvement and building markets.

The group, which had five subsidiaries, had a combined turnover of about £70m from its various sites in the Midlands and the North.

Laird is a global electronics, security systems and distribution group employing more than 5,000 people in North America, Europe and across Asia.

The acquisition of BHD makes it the UK market leader in the supply of doors, windows and conservatories to the growing DIY retail market.

Peter Hill, chief executive of Laird, said: "This acquisition allows Laird Security Systems to enhance its position with the large UK retail groups at a time when consumers and trade buyers are focusing on well-established outlets for significant DIY purchases.

"The businesses have an excellent product range and sound, long-term relationships with major customers, and will benefit from synergies with, and the global reach of, the rest of the group."