MULTI-millionaire George Reynolds has put his giant chipboard company up for sale, The Northern Echo can reveal.

In a surprise move, the owner of Darlington Football Club revealed exclusively to The Northern Echo that he has decided to sell his manufacturing plant in Shildon, County Durham, to devote more time to the Quakers.

Outlining his plans yesterday, he reassured his Shildon workforce that their jobs were safe and promised to bring 200 new jobs to the region.

In partnership with Wolsingham businessman Billy Morgan, he has invested millions of pounds in a dock development at Wallsend, which includes a large manufacturing unit producing animal bedding.

Plans are also well under way for the construction of a 40,000sq ft factory in Wear Valley, which will be the distribution base for the product.

The animal bedding will be used for all kinds of livestock, from horses and poultry to pigeons and domestic pets.

"There is a huge demand for this recycled material and we intend to become the world market leaders," said Mr Reynolds.

The football club chairman, one of the richest men in the country, took industry by storm after turning his back on crime. The former safe blower built up his Direct Worktops company from scratch, clinching the top manufacturing slot in the world before selling it on to the American owned Wilsonart for £41m.

Now Mr Reynolds, who paid out more than £5m to save Darlington Football Club from the brink of bankruptcy, is in negotiations for the sale of his chipboard manufacturing company, George Reynolds UK.

Mr Reynolds, who also has a large engineering plant in Coundon, stressed that the lion's share of his time will be devoted to the football club and the £15m stadium he is building in the Neasham Road, Darlington.

Although it has not yet been calculated exactly how many jobs will be created, Mr Reynolds is confident that his new ventures will bring work for more than 200 people.

"I managed to shrug off my early years and go on to establish a sound business empire and, while I am now selling one part of it, I am creating new ventures to take its place," he said