A WEST CUMBRIAN port has been bought by a company who are looking to 'bring new opportunities' to the region.

Associated British Ports (ABP) announced it has reached an agreement with Fox Group (Fox) for the acquisition of its ports in Fleetwood and Silloth, subject to regulatory approvals.

The acquisition provides a 'new, positive chapter' for both ports, their users and the surrounding communities, according to ABP.

For both ABP and Fox, it represents a significant development in both companies’ strengthening of their respective business strategies.

Fox Jackson Ports, established for the acquisition, is part of Fox Group, a fourth-generation, family-owned and northwest headquartered construction services, logistics and property group.

It said it is acquiring the two ports in order to continue its sustainable growth trajectory, and specifically to support the movement of more of its aggregates via sea.

The ports of Fleetwood and Silloth have played a crucial role in the region for a number of years and Fox ownership will 'bring new opportunities for growth and investment, delivering wider benefits for the region', according to the companies.

Paul Fox, CEO of Fox Group and Andrew Duckett, CEO of JA Jacksons said: “The acquisition of the ports of Fleetwood and Silloth aligns with our long-term vision for sustainable growth as a company and develops our long established and extensive property portfolio.

“We look forward to working closely with local communities, businesses and stakeholders to ensure the continued success and development of these vital ports and the economic development of the northwest.”