Aero-engine components manufacturer MB Engineering Solutions – formerly Motherwell Bridge – has bought its Motherwell site in Scotland from receivers in a move it says will save 200 jobs.
The UK company is due to report full year results for the year to June 2005 by August, but "profits are currently ahead of budget and borrowing repayments have been accelerated", says MB chairman Hugh Hayes.
The company was formed in 2003 after the restructuring of Motherwell Bridge, which owned the Motherwell site but went into receivership.
In January the aerospace division of MB Engineering Solutions won a five-year contract worth up to £25 million ($32 million) to supply ring components for engines that power BAE Harriers and Hawks and Boeing 747-400s.
Source: Flight International
