Sale for another piece of Caparo saves jobs
Another part of the collapsed Caparo Industries group has been sold by administrators, securing the jobs of 79 workers.
Caparo Wire, in Wrexham, has been sold to Rcapital, an investment company which specialises in buying up and turning around struggling businesses.
Caparo Wires specialises in making galvanised and engineering steel wire used for bedding and seating; fasteners and screws; and spring wire for fencing and plating.
Robert Moran, the partner at administrators PwC who is leading the Caparo sales process, said: "The sale of Caparo Wire is another great result for the staff employed there and is the second deal to be completed, following the recent sale of Caparo Testing Technologies. We would like to thank all of the Caparo people involved for their dedicated support in securing this transaction.
"We continue in advanced discussions with parties relating to interest in other Caparo Industries Group companies."
It follows the sale of Caparo Testing Technologies, including a site at Popes Lane, Oldbury, to Applus+ on Friday, saving 76 jobs.
More than 320 jobs have been lost in the Black Country with the closure of Caparo businesses since the collapse last month. Around 1,000 people work for the remaining Caparo engineering businesses hoping to find a buyer
