FOR more than 50 years the Pensord printing factory has been a major employer in the Blackwood area, but now staff are facing the axe after new owners decided the site was "no longer financially viable".

Around 100 people work at the site, in Pontllanfraith, where they print, cut, fold, bind and package everything from medical journals to music magazines.

Rival firm Stephens and George (S&G) bought the factory late last year, and according to Pensord staff the new owners have already begun selling off assets like printing presses.

News of the takeover came out of the blue, and at the time there was "no indication there would be any closure" of the Pensord factory, one worker told the Argus.

But by "mid-December" it was announced the Pensord site would be axed, following a brief consultation process and the sell-off of equipment that has left the factory "nearly empty" and run by a skeleton staff.

S&G told the Argus the Pensord business was "was under pressure to survive due to a significant increase in energy costs and supply chain increases in 2022".

The firm said its takeover had "saved both Pensord Press Ltd and Cambrian Printers Ltd from the threat of administration but sadly the site in Blackwood was no longer financially viable to operate due to a 500 per cent increase in energy costs".

Staff said the impending closure was "heartbreaking" and had left them "absolutely devastated", including many workers from the local area who had made a career for themselves at Pensord. The Argus understands S&G offered to relocate some workers to its own factory in Merthyr Tydfil, but many staff reportedly declined.

S&G said jobs had been offered "to most employees that were willing and able to travel to Merthyr Tydfil in order to continue their careers in the printing industry".

Many of the remaining Pensord workers are now facing the axe in April and are at a loss to explain the events of the past few months.

"There’s quite a close bond [among] workmates," one told the Argus. "Some people started there after school - they've never had another job. People enjoyed working there."

S&G said the "Pensord and Cambrian brands will live on and we will continue to invest heavily in securing the futures of all those that work for the S&G Print Group in South Wales", including current recruitment "for additional staff in manufacturing roles in Merthyr Tydfil".