Re­dun­dant work­ers saved by new buyer

Warwickshire Telegraph - - NEWS - Enda Mullen Busi­ness re­porter enda.mullen@coven­try­tele­graph.net

ENGI­NEER­ING work­ers at an Ex­hall com­pany who were made re­dun­dant when it went into ad­min­is­tra­tion are cel­e­brat­ing get­ting their jobs back af­ter a buyer was found for the busi­ness.

More than 30 high­lyskilled staff en­dured a week of tur­moil af­ter they were made re­dun­dant by ad­min­is­tra­tors RSM from Pow­erKut, a fam­ily-owned com­pany based on the Bay­ton Road In­dus­trial Es­tate.

The firm, which also has an op­er­a­tion in Birm­ing­ham, de­signs and man­u­fac­tures prod­ucts for a wide range of in­dus­try sec­tors - in­clud­ing automotive and aero­space.

It blamed its clo­sure on fund­ing prob­lems.

De­spite mak­ing staff re­dun­dant RSM said it be­lieved there could be po­ten­tial buy­ers for the busi­ness and in the event 26 in­ter­ested par­ties came for­ward.

Metrol­ogy Qual­ity Ser­vices (MQS) even­tu­ally suc­ceeded in pur­chas­ing the as­sets of Pow­erKut, along with its in­tel­lec­tual prop­erty rights and trad­ing names.

MQS is a Steve­nage­based gaug­ing com­pany, which is part of Ir­ish firm HW Ma­chine Tools, owned by Richard Hayes.

It is be­lieved Pow­erKut’s rep­u­ta­tion across a range of in­dus­try sec­tors for the spe­cial­ist parts it de­signs and man­u­fac­tures led to the string of in­ter­ested buy­ers ap­proach­ing RSM.

MQS, led by Paul Bexon, said it “saw the huge po­ten­tial” of the busi­ness and “the highly skilled work­force it em­ployed lo­cally” and bought Pow­erKut’s as­sets for an undis­closed sum.

MQS sub­se­quently of­fered al­most all the for­mer Pow­erKut em­ploy­ees jobs in the new com­pany and has also pledged to con­tinue to in­vest in and grow the busi­ness in Coven­try and Birm­ing­ham.

Wel­com­ing the move, Peter Everitt for­mer man­ag­ing di­rec­tor of Pow­erKut, who has also been taken on in a sales role by MQS, said: “As a busi­ness Pow­erKut was a prof­itable group and was op­er­at­ing at the top end of the engi­neer­ing spec­trum mak­ing parts and pro­to­types for cus­tomers as di­verse as CERN in Switzer­land.

“It was only due to dif­fi­cul­ties with one fun­der that we closed.

“It pleases me greatly that MQS and HW Ma­chine Tools have seen the huge tal­ent in the busi­ness and this re­gion of the UK and I’m sure that Pow­erKut and its em­ploy­ees un­der their lead­er­ship will flour­ish and con­tinue to push the bound­aries of engi­neer­ing world­wide and help to put Coven­try firmly back on the in­ter­na­tional map of engi­neer­ing.”

Pow­erKut spe­cialises in tool­ing, gaug­ing and ma­chined com­po­nents prod­ucts for the min­ing, rail, con­struc­tion, aero­space, automotive, marine, de­fence, nu­clear, plas­tics and gen­eral engi­neer­ing sec­tors.

Its cus­tomers in­clude West­land He­li­copters, the Min­istry of De­fence, Al­stec and BP.

Ver­ity Perkins, Peter Everitt and Joe Mor­ris

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