A BUSINESS only yards from Tony Blair's home has been bought out of administration, saving 30 jobs.

Volante Public Transportation Interior Systems Limited, in Trimdon, County Durham, has been bought by its holding company, Invertec Limited.

Thirty out of 70 jobs have been saved and Volante, which makes interior panels for boats and trains, will continue to operate from its present location.

David Paulson, Invertec managing director, said: "The technical skills and knowledge of the core staff at Trimdon are second to none. We look forward to working with them to offer outstanding products to existing and new customers."

Volante went into administration in the middle of last month. It blamed a number of loss-making contracts for its financial problems.

Earlier this month, administrators Deloitte made 40 people redundant.

Administrator, Neil Matth-ews, reorganisation services team director, said: "It has been a long, complex process to reach this point, but we are very pleased to have been able to sell the business on as a going concern, which was achieved with the support of the company's employees, customers and suppliers.

"Volante has always essentially been a structurally strong business with a range of established customers, and it offers good prospects for its management team and workforce."

Regional development agency One NorthEast last night welcomed the news and pledged to support the company going forward.

Ian Williams, head of business products, said: "One NorthEast is keen to offer the help of its North East Productivity Alliance (Nepa) programme to the new business as it moves forward - expert engineers advising the company of the latest lean manufacturing techniques, which could assist its future business plans."