The former chairman of the small firms lobby group, ISME, Mr Peter Faulkner, announced yesterday he had bought the assets, goodwill and stock of Barefield Packaging, of Baldoyle, Dublin, and would be transferring them to his company, Faulkner Packaging, based at Chapelizod.

Mr Faulkner, who resigned from his ISME position last month, said Faulkner Packaging had paid £1 million from existing resources for Barefield and for a factory unit at Kylemore Park in Dublin.