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Caparo: Nearly 80 jobs at troubled steel company saved in deal Caparo: Nearly 80 jobs at troubled steel company saved in deal
(35 minutes later)
Nearly 80 workers from troubled steel company Caparo will keep their jobs after part of the company was sold off.Nearly 80 workers from troubled steel company Caparo will keep their jobs after part of the company was sold off.
Caparo Testing Technologies has been sold to Applus+, administrators PwC confirmed, saving 76 jobs in the West Midlands and the south of England.Caparo Testing Technologies has been sold to Applus+, administrators PwC confirmed, saving 76 jobs in the West Midlands and the south of England.
Caparo announced the loss of 452 jobs at plants across the country, including 300 in the West Midlands, after entering partial administration.Caparo announced the loss of 452 jobs at plants across the country, including 300 in the West Midlands, after entering partial administration.
Talks are ongoing for the sale of other parts of the business.Talks are ongoing for the sale of other parts of the business.
Caparo Testing operates in Oldbury in the West Midlands, Reigate, Luton and Poole.Caparo Testing operates in Oldbury in the West Midlands, Reigate, Luton and Poole.
For updates on this and other stories Birmingham and Black Country
PwC partner Robert Moran, who is leading the sale of 16 companies in the Caparo Industries Group, said the "highly strategic acquisition" was "great news" for the 76 employees, adding other parts of the company could also be bought by new investors.PwC partner Robert Moran, who is leading the sale of 16 companies in the Caparo Industries Group, said the "highly strategic acquisition" was "great news" for the 76 employees, adding other parts of the company could also be bought by new investors.
He said: "We continue to hold advanced and encouraging discussions with a number of parties around the sale of remaining Caparo Industries Group companies."He said: "We continue to hold advanced and encouraging discussions with a number of parties around the sale of remaining Caparo Industries Group companies."