Tue, 06 Dec 2016 | BUSINESS SALE
The assets of a historic manufacturing firm have been bought from administrators.
According to Insider Media, Cambridgeshire-based Stainless Metalcraft has acquired the assets of Whiteley Read in Rotherham.
Whiteley Read was founded in 1937 and supplies pressure vessels and packaged equipment, with many of its customers in the oil and gas sector.
Stainless Metalcraft, part of the engineering technology group Avingtrans, makes equipment for work in hazardous environments for sectors including power generation, nuclear, oil and gas and ‘big science’.
Austen Adams, managing director of Avingtrans' energy and medical division, was quoted as saying: "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."
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