AN ENTERPRISING Inverclyde company has snapped up global products owned by a paper manufacturer which went bust.

Kilmacolm-based PG Paper has acquired a number of leading global brands formerly owned by Tullis Russell, the Fife-based paper manufacturer which went into administration in April.

Puneet and Poonam Gupta, the husband and wife team behind PG Paper, have paid a ‘substantial’ undisclosed sum for the Trucard and associated brands, together with the Gemini range.

One of the UK’s fastest growing paper companies, PG Paper specialises in a variety of printing, writing and other speciality papers, including stationery and office supplies.

They employ a dozen people in Kilmacolm, and export more than 90 per cent of their products to India, the Middle East and the Far East.

In the last few years they have developed a presence in other major markets including North Africa and South America.

PG say Trucard is internationally renowned, and was Tullis Russell’s most prominent brand, available in 76 countries.

In 2014, Tullis Russell sold 73,142 tonnes of Trucard branded paper, generating significant revenues.

The Gemini brand is a cartonboard product similar to Trucard.

It was acquired by Tullis Russell from Inveresk 10 years ago in a multi-million pound deal.

Puneet and Poonam Gupta said: “We are delighted to have acquired two incredibly reputable and well-respected brands in the premium packaging board industry.

“As a global paper company, we feel the addition of these brands to our portfolio will enable us to strengthen our presence and continue to grow our established position in the market.” They added: “In recent years we have experienced significant growth in packaging and speciality papers and boards. We feel that Trucard and Gemini will enable us to solidify our presence and build upon our recent successes to achieve our ambitious growth plans.”