Crisis firm jobs are saved

A crisis-hit Bloxwich firm is likely to be in new hands by next week, saving 100 jobs.

Administrators are "on the brink" of selling the century-old Bloxwich Engineering Ltd. The firm in Fryers Road went into administration in November.

The move prompted fears that the workforce would be made redundant but this month the Express & Star revealed that several buyers were in the pipeline.

The firm has continued to trade as normal with a bursting orders book and many businesses have been keen to snap it up.

Now union officials have said a deal is being finalised and the company could be in new hands by next week.

Caroline Crolley, of the Transport and General Workers Union, said: "The paper work is being ironed out and we're hoping the sale will have gone through by next week."

Grant Thornton administrator Neil Toombs took over the reins of the company two months ago.

He is finalising the deal with the mystery buyer, and all jobs look set to be saved.

Concerned MP David Winnick has paid several visits to the factory to hold crunch talks with administrators over the future of the site and help secure workers jobs.

The firm was established in 1915 as Bloxwich Lock and Stamping Company Ltd. It started life with a workforce of 40 but at its peak had 900 employees. Today it employs about 100.

It supplies the automotive industry with vehicle hinges, hydraulic cab locks, bonnet catches and forgings and pulleys.

Its Bell Lane headquarters was sold by its Malaysian owners last year in a £5.75 million deal with an estate of 132 houses and apartments to be built on the land. One in four of the properties, 33 in total, will be classed as "affordable housing" and must be transferred to a social landlord.