Reprieve for Maloney Metalcraft after Aldridge site sale
AVINGTRANS, which designs, manufactures and supplies components and services to the aerospace, energy and medical sectors, has announced the sale of its Aldridge site, realising £1.1m net of costs.
The Aldridge site houses the Maloney Metalcraft business and the sale of the facility forms part of the parent company’s restructuring programme announced in November
But the front engineering and technical offices of the Aldridge facility will be leased back to Maloney Metalcraft by the unnamed buyer, allowing the design and engineering activities to remain at the site.
Austen Adams, managing director of Avingtrans’ energy and medical division, said: “I am pleased to have successfully concluded the sale of the Aldridge site in line with our stated restructuring plans.
“This deal delivers value to our shareholders and allows Maloney Metalcraft’s design and engineering team to remain at Aldridge, thereby avoiding any disruption to their continuing business operations.”
In November Avingtrans said its restructuring plans would include the closure and sale of the Aldridge operation with production switched to an “outsourced global supply chain” supported by the larger Metalcraft facility in Chatteris.
At the time it was taken over by Avingtrans in 2013, 85 people worked at Maloney’s Aldridge base.
Maloney Metalcraft, formerly Exterran UK, was rescued by Avingtrans in 2013 when the engineering group bought the business for a token £1.
The Westgate-based factory designs, fabricates and installs products for the global oil and gas market, including equipment solutions for petroleum production, gas processing, produced water treatment and aftermarket parts and services.
