A further 333 UK jobs have been saved at steel company Caparo, administrators PwC have announced.
Caparo Tubular Solutions has been sold to the Gupta family, which manages metals company Liberty House Group.
The sale secures jobs in Oldbury, West Midlands, Tredegar, Blaenau Gwent and Edmonton, north London.
In October, Caparo announced 452 jobs were to go across the country, including 300 in the West Midlands, after it entered administration.
A total of 76 jobs in the West Midlands and south of England were saved last week when PwC confirmed Caparo Testing Technologies had been sold.
It brings the total number of jobs saved at the company to 409.
Robert Moran, partner at PwC, said: “The sale of Caparo Tubular Solutions is a major boost for the Midlands economy, the employees of Caparo and more widely for the UK steel industry.
“This deal preserves all 333 jobs at Caparo Tubular Solutions, which manufactures, distributes and supplies advanced tube components and parts for the automotive and aerospace industries in the West Midlands and South Wales.”
Unions blame cheap steel imports for Caparo’s financial problems.
Source: https://www.bbc.com
