A CLAYTON-LE-MOORS haulage firm has been bought for more than £2million in a business deal, it has been revealed.

Gilbraith Tankers Ltd, Atlas Street, has been purchased by Durham-based transport services firm Hargreaves (Bulk Liquid Transport) Ltd (HBLT)for a total of £2.6million.

Gilbraith is a firm with a fleet of 48 tankers, but Hargreaves is much larger, and last year reported a turnover of more than £70million, and profits before tax of £3million.

Hargreaves, part of Hargreaves Services plc, yesterday announced it had bought the assets, business and goodwill' of Gilbraith.

The move is expected to secure employment at the firm, and allow the established name to continue into the future.

Gareth Vicary, managing director of HBLT, said: "We are delighted to have acquired the Gilbraith business.

"This will extend out geographic and client coverage by adding a dedicated depot in the North West to our existing base in the Midlands.

"Gilbraith is a long established business with an excellent reputation and good client base." Derek Pilkington, chairman of Gilbraith, said: "We are pleased to have joined HBLT, and are confident that our family business will be in good hands, thus giving even better service to clients, thereby securing employment for out workforce, and continuation of our name."