George Reynolds has put his giant chipboard company up for sale.

In a surprise move, the multi-millionaire 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.

He has reassured his Shildon workforce that their jobs are safe and is promising to bring 200 extra jobs to the region.

In partnership with Wolsingham businessman Billy Morgan, Mr Reynolds has invested millions of pounds in a dock development at Walls-end 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 to pigeons.

"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, who is 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 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.

"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.

Mr Reynolds, who also has large engineering plant in Coundon, stressed that the lion's share of his time would be devoted to Darlington Football Club and the £15m stadium he is building in the town's Neasham Road