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Express Engineering, in Team Valley, Gateshead, buys Stokesley's Burdon Limited
MORE than 70 jobs have been saved after a North-East manufacturing firm bought a 40-year-old precision engineering company.
Express Engineering, based in Team Valley, Gateshead, has acquired Burdon Limited, in Stokesley, North Yorkshire, which went into into administration today (Friday, August 30), for an undisclosed sum.
Bosses say the company's entire 76-strong workforce have been transferred to Express, and they have also bought Burdon's equipment, which they hope will help create more jobs.
Burdon, based on Stokesley Industrial estate, specialised in engine casings for the aerospace industry, making axles and machinery used in landing gear.
Express says the deal includes a 25,000 sq ft factory, which will allow further expansion of operations in Stokesley, resulting in more skilled jobs.
Nigel Davison, Express Engineering managing director, said: “We have enjoyed strong growth in recent years and we were looking for ways to increase capacity.
“Burdon operated in a very similar field and so we saw a great opportunity to accelerate our expansion, taking on good people with the right skills.
“We quickly reached agreement, which we see as a good deal for both businesses, and it will help us fulfil our exciting growth plans while securing jobs and key engineering skills, which could otherwise have been lost.”
The deal comes as Express, which employs more than 375 workers, celebrates its 40th anniversary.
Iain Oates, Burdon managing director, said he was delighted the deal had been quickly concluded and that workers had retained their posts.
He said: “This is fantastic news for our people and our business, which has some exciting new opportunities with new customers on the horizon.
“Unfortunately, an unexpectedly protracted re-financing process created a cash flow problem, which threatened to put all this at risk.
“Express Engineering stepping in means we can continue to develop these opportunities, particularly with aerospace and plant sector customers.”
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