THE Presspart Group - one of East Lancashire's largest manufacturing companies with almost 500 workers - has been split up with part of the business being bought by a German firm.

Blackburn-based Presspart Manufacturing, a world leader in deep drawn metal pressing components, has been acquired by Heitkamp & Thuman for an undisclosed sum.

Its former sister company, Decorpart, is planning a multi-million-pound expansion programme at its Nelson base, funded by the proceeds of the sale. A new factory will be built to concentrate on the production of components for pharmaceutical products such as asthma inhalers.

Workers have been assured their jobs are safe.

David O'Neill, managing director of Presspart, said the deal was a positive step forward.

He said: "This is very good news for Presspart. Becoming part of this global organisation offers Presspart significant opportunities to develop its business further and strengthen its position as a market leader."

The Presspart Manufacturing name will be retained and the current management team will remain. The takeover also includes the smaller American subsidiary, Presspart Inc. of Carolina.

Mr O'Neill added: "For all of us at Presspart, it is very much business as usual, but with a renewed emphasis on identifying and satisfying existing and potential customers' requirements."

Decorpart Ltd, a world-class manufacturer of anodised aluminium packaging components for use in the global perfumery, cosmetics and pharmaceutical sectors, is looking forward to major investment and continuing global expansion.

Decorpart will build a new factory, supporting its leading market position in pharmaceutical valve components. The existing facilities will be used for its growing perfumery and cosmetics businesses.

"It is excellent news for our customers, suppliers and workforce and means we can look forward with confidence," said chief executive Nigel Clark.