TWO of the region's largest law and corporate finance firms have exported their services outside the North-East to protect jobs in the automotive industry.

Newcastle commercial law firm Robert Muckle and corporate finance experts Tait Walker have helped the management of Valeo Transmission Ltd (VTL), of Halifax, buy the business from the French Valeo Group, securing 130 jobs.

The leader of the MBO team, Bruno Jouan, turned to the two firms to help in the negotiations and arrange the funding for the multi-million pound transaction.

Mr Jouan was managing director of Valeo's former Blyth plant in the North-East before moving to Halifax.

VTL was established more than 40 years ago and employs 135 staff in Halifax.

It develops and manufactures gear box components for export to major car manufacturers, including Renault, Ford, Volvo and Toyota.

Mr Jouan formed the MBO team with fellow managers Chris Elliott and David Clegg, who have ambitious plans to double the turnover of the company in the next three years.

Mr Jouan said: "Securing the deal from Yorkshire and France with the assistance of a North-East team of advisors was no problem at all. In fact they were very proactive and committed to helping us make the transaction happen in a short timescale."

Robert Phillips, of Robert Muckle, provided legal advice and lead the negotiations in the purchase of VTL, while Allan Kelly, of Tait Walker, helped secure funding for the deal, through Lloyds TSB Commercial Finance in Newcastle and Leeds.