THE future of a 175-year-old cable maker could be secured after a bid was made to buy the company, The Northern Echo can reveal.

Bosses at AEI Cables, based in Birtley, near Chester-le-Street, County Durham revealed last week they couldn’t rule out the site’s closure after a proposed restructuring plan was rejected.

The Northern Echo understands one unnamed potential buyer has put in a bid to buy AEI’s Birtley base, but the possibility of a full site closure still remains, as does turning the site into a “marketing only” centre.

Dave Anderson, MP for Blaydon, visited AEI Cables yesterday to meet bosses and union staff, and he describes workers as being “down in the dumps”.

“There used to be ten times as many workers in the factory as there is now – it looks desolate” said Mr Anderson “The workers are depressed, stressed, down in the dumps – some are on the sick because of it all.”

The Blaydon MP said he planned to raise his concerns with Business Secretary Greg Clark.

“There is no argument with the quality of the product. There is a lot of confusion about how the company got into this position.

“We could get a situation where cables supplies for British battleships are not made in Britain. Although we will be told the quality will remain the same, that has to be a concern.

“I am going to approach the Business Secretary to see if he can try and do something and at least limit the damage.”

Two years ago, the future of workers at AEI cables was secured after the company was bought by Dubai-based Ducab.

“I have no idea if we will be able to get government intervention, but we have strong trading and security relationships with Dubai and Abu Dhabi, and I would say to the Prime Minister to at least have a discussion, like she did with Nissan” said Mr Anderson.

The MP said bosses at the company went to Dubai to propose cutting the workforce - a move which would see remaining workers have their current hours increased and see them work for 94p less an hour.

“Whilst workers might be prepared to look at different shift patterns, they are reluctant because of the way the company has gone about it.

“The company is currently paying £1,500 a month to the council, so if they could get reduced rates, whilst it wouldn’t be a lot, it all adds up if they get lots of different bits.”

The GMB Union said members are “devastated” about the possibility of the site closing, whilst also expressing anger over the company refusing to commit to providing redundancy payments in the event of the site’s closure.