TWENTY-FOUR jobs have been saved after an engineering firm was bought from administration by two members of its former management team.
Washington Precision Engineering (NSE) Ltd, which went into administration on January 7, has been sold to new company, Washington Technologies Ltd.
The new company has been formed by former Washington Precision Engineering directors Jack and Susan Holt, with Stuart Walton joining the company to effect the purchase of the business and assets.
The company, based on the Crowther industrial estate in Washington, Wearside, manufactures parts for the aerospace industry.
The firm had typical annual sales of between £1.5m and £2.2m.
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