Jobs saved in engineering deal

AROUND 100 jobs have been saved at a Lancashire engineering firm after it was bought out of administration.

Administrators at BDO in Manchester have sold Davis Pneumatic Systems and two associated companies, RGS Davis and RGS Plus, to Accrington-based Pneumatrol, while Northamptonshire-based Thomas Salvesen Enterprises has picked up a fourth group company called Opus Metrology.

The companies were owned by the Leicester-based manufacturing group Parmeko which went into administration earlier in the month.

Thomas Salvesen Enterprises is owned by Thomas Salvesen. He is also the sole director of Pneumatrol which was set up on April 4.

Opus makes gauge blocks and provides metrology services from its site in Corby and the other companies, based in Accrington, provide pneumatic control devices. BDO restructuring partners, Patrick Lannagan, Dermot Power and Jo Wright, were appointed on April 12.

BDO said it was engaged in an accelerated marketing process over a six-week period.

Patrick Lannagan said: “We are pleased to announce the sale of the businesses, which has secured continued employment for 110 staff and continuity for customers and suppliers, as well as preserving two well established and highly regarded manufacturing operations.”