Almost 100 skilled Teignbridge jobs have been secured after the news that a world-class engineering firm is back under local control.

The Newton Abbot-based Teignbridge Propeller Group has been bought by David Duncan and David Hunt, the pair who took the firm to international success and sold it to the giant American Brunswick Corporation in 1997.

Mr Duncan, 62, was one of the team who founded Teignbridge Propellers in 1974 and Mr Hunt, 59, its group managing director.

Both are former Centrax employees and live in south Devon.

For the past 12 years they have built up another successful marine business, Heathfield-based Duncan Propellers.

Now the pair have regained control of the Newton Abbot firm, meaning Duncan Propellers will have the extra space it needs to meet a bulging order book, securing work for its 40 or so employees.

More good news is that the 50 staff at Newton Abbot can look forward to full time working once more, many having had their hours and wages cut in January when Brunswick said the market had slumped.

Since then the American firm, owner of brands such as Mercury Marine, has been restructuring and looking to dispose of a number of assets.

The cost of the Teignbridge Propellers deal is a closely guarded secret after Brunswick insisted on a confidentiality agreement.

But Mr Hunt said with the two propeller firms soon to join forces on the Newton Abbot site the cash was well spent.

'It's a major investment for us and we've got to believe in the ability of the people involved, we already know a lot of the employees,' Mr Hunt told The Advertiser.

'We're not reckless people but we know there is a risk as we can't call the market, but it can't get much lower and we want to be ready with innovative new products.

'We are making use of this down time and already have a new concept for a fixed pitch propeller which is undergoing controlled trials with a well known boat maker.

'We're going to chase down every order we can. We feel the market is close to bottom dead centre and we hope to have the Newton staff back to full time work as fast as humanly possible, hopefully by the end of the summer with the amount of energy we're putting into this, the sales team are really up for it.'

In addition to its Newton Abbot operation Teignbridge Propellers has 13 staff in its Dubai branch. Mr Hunt said although there were no expanding commercial markets at the moment, he said some boat manufacturers were reporting a 70 per cent slump in sales, the defence sector was holding up.

Talking about possible job creation he said: 'Yes this place could absorb more people but for now that is a statement too far. But in the future, who knows?'