US investor York Capital has completed the acquisition of Klesch Aluminium Delfzijl. York and Klesch’s official receiver have reached agreement over the re-start of the aluminium company, the Telegraaf reported on Friday.

Klesch, formerly known as Aldel, was declared bankrupt at the end of August. But the official receiver said then there was a good chance of re-starting the smelter.

The company will revert to the Aldel name and the payroll will be expanded to about 250 at the end of 2018, compared to 175 at present. The transaction must be approved by the Dutch consumer and markets authority ACM.