Cheshire councils have launched a new trading company in a move expected to save in excess of £5m after the first five years.
CoSocius Ltd, launched by Cheshire West and Chester and Cheshire East Councils, will deliver business services to local authorities and market services to other organisations.
The councils said the company will generate savings of more than £5m after the first five years, rising to £1.6m annually.
Cllr Les Ford, deputy leader of Cheshire West and Chester Council and board member of the new company, said: ‘We are seeking to create an innovative, sustainable and highly competitive business able to trade profitably with other organisations, in addition to providing council services.
‘CoSocius will play its part in an ongoing process designed to cut costs by eliminating waste and improving efficiency – a process which has enabled this authority to save £133m in five years.’
More than 300 council staff have been transferred to the new company.