Share reallocation at Derbyshire engineering group

The management of Derbyshire-based Bulwell Precision Engineers, a subsidiary of Coventry-based Nasmyth Group, has announced that it will be transferring its share of the ownership of Pinxton-based Metal Process Services (MPS) to its fellow shareholders for an undisclosed amount.

Nasmyth Group, a global precision engineering and metal treatments business, acquired Bulwell Precision in 2003. The firm says that acquisition of Bulwell’s shares in MPS, by MPS, will “allow that company further investment to grow in the short and long term creating new business opportunities”. Bulwell Precision Engineers will remain under the 100% ownership of Nasmyth Group and there will be no change in the management of this business.

MPS provides metal processing for the precision-machined products manufactured by Bulwell and other Nasmyth Group companies and Bulwell provides machining services for MPS for its use and onward processing.

Peter Smith, chairman and chief executive of Nasmyth, said: “We have developed a strong partnership with MPS and I am sure we will continue to do so with new trading arrangements being put in place that will allow further business opportunities for both companies. We wish MPS every success.”