HARTLAND (AP) – Gov. John Baldacci says the closing of a deal by Meriturn Partners LLC to acquire Irving Tanning Co. will preserve nearly 200 manufacturing jobs.

Irving Tanning announced in March that it had filed for Chapter 11 bankruptcy relief. The state agreed to loan $250,000 to the leather manufacturer so it could remain open.

Baldacci said Monday’s closing followed negotiations that stretched through the summer. He said the negotiations involved federal, state and local officials.

“I am pleased that the hard work of all the partners has paid off,” the governor said in a statement. “Irving Tanning has been producing some of the finest quality leather products for the past 80 years, and the company provides good paying jobs with benefits in this region of the state.”

Baldacci’s comments were echoed by U.S. Sen. Olympia Snowe, who said a loan guarantee by the U.S. Department of Agriculture that she had advocated for a Wells Fargo loan of $2 million to Irving Tanning had helped further the Meriturn Partners acquisition.

Irving, which had annual sales of $65 million, filed its petition in U.S. Bankruptcy Court in Bangor.

Snowe called the tanning company one of the largest, most modern and lowest-cost tanneries in the nation, with customers including the U.S. military.

“After working with Irving Tanning, the USDA and community groups for so long to get to this point, I am pleased that the company’s employees and the town of Hartland will not have to confront the closing of one of the largest employers in the area,” Snowe said.