Metalcraft secures the future of gas and oil sector 'icon' Whiteley Read
PUBLISHED: 17:05 07 December 2016 | UPDATED: 17:05 07 December 2016
Stainless Metalcraft has secured the future of an "iconic" British manufacturer.
The Chatteris-based firm has bought Whiteley Read; a pressure vessels and packaged equipment company which had filed for administration.
The Rotherham company had customers in the oil and gas sector, and Metalcraft managing director, Austen Adams, says the deal will serve as a valuable addition.
“I’m delighted to have completed this deal,” he said.
“While the oil and gas industry as a whole has been struggling in the wake of falling oil prices, Whiteley Read has an excellent reputation for the quality of its components and the business’s experience and capabilities strongly complement our own.
“The assets bring much needed additional capacity to meet our future growth plans.
“We have immediate contracts in place to fill the factory with overspill from existing operations, and real potential to develop additional business in both current and new markets.
“We will continue serve the market under the Whiteley Read name and I’m excited by the prospect of working to drive the company into better times.”