ELEVEN jobs have been safeguarded and two created with the sale of metal fabrications business, M&P Metalcraft, on Teesside.
The business has been bought by management team Harold Tuck and his son Jeffrey, Geoffrey Meager and Kevin Naylor.
M&P, which has been operating at Puddlers Road, South Bank, since 1981, provides metal fabrication services, including new build, repairs and maintenance, to local councils, commercial and domestic customers.
Much of its work involves the maintenance of boundary fences and road barriers for local authority- owned commercial and domestic properties.
Simon Hamilton, of UK Steel Enterprise, the regeneration operation of Corus, has offered an unsecured loan of £35,000 to help the business expand.
The commercial mortgage and other working capital were provided by David Humphreys of NatWest Bank, and Peter Taylor of Clive Owen Corporate Finance advised the management team on the deal.
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