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Fastflow buy-in

FINANCE

THE MANAGEMENT of pipeline contractor Fastflow has bought the business from Northumbrian Water.

Fastflow, which turns over £18 million a year and employs 240 staff at Washington in the north-east, wants to work for gas and electricity utilities and other water companies.

Managing director Neil Armstrong, who led the buy-in, said: 'Due to Northumbrian Water's focus on its core water business, further growth under their umbrella would have been difficult.There is a huge opportunity for us to grow our business.'