Tyrone Crystal has been bought by a number of executives at the Dungannon-based business for an undisclosed sum.

Mr Peter Nunn, formerly the sales and marketing director with Tipperary Lifeware Group, former owners of Tyrone Crystal, said Tipperary had offered the executive team the opportunity to put together a bid. He would not disclose the price paid. Mr Nunn is the new chief executive of Tyrone Crystal, which employs 100 people.

The other two members of the executive team were Mr Paul Donnelly and Mr Tom Williamson. Mr George Priestley, a former managing director of Tyrone Crystal, also formed part of the buyout team.

He is to become the firm's new chairman.

Mr Nunn said he and his colleagues were confident they could build the firm in local and worldwide markets.

UK designer Mr Nick Munro has been recruited to design a collection for spring 2004.

Tipperary Lifewear bought the Tyrone operation in July 2000 as part of its strategy of expanding through indigenous growth and acquisition.