MORE than 100 North-East jobs have been saved after a takeover deal secured the future of electronics group Joyce Loebl.

The company, based at Gateshead, Tyneside, has concluded a deal with Kent security technology specialists, Screen.

The deal safeguards the 50-year-old North-East firm and means its 125 staff can look forward to the New Year.

Screen, a leading security and communications systems company, paid £2.575m for Loebl. The deal will also cover Loebl's debts so it can start the year with a clean slate.

Geoff Carswell, Loebl chief executive, said he was delighted with the development.

"Screen is a very strong business which is growing very quickly. I am confident that we will also be able to grow as a result of this deal. There certainly won't be any redundancies," he said.

Loebl was attractive to Maidenhead-based Screen thanks to its strong reputation in the defence and transport sectors.

Loebl, which in the year to July 28 had a £8.2m turnover, specialises in secure computer systems used by the military and is an approved supplier to the Ministry of Defence. It also manufactures security systems and interactive video monitors used on public transport.

Owen Williams, chairman of Screen, said: "This acquisition greatly increases our reach into the transport sector and provides an entry into the defence market."