Fri, 12 Dec 2014 | DIVISION SALE
Engineers Mabey Bridge has made known its plans to close down one site in Chepstow and the possible sale of another.
Its steelwork fabrication operations on Station Road, where 150 employees are based, is to be shut down, and its renewable power section in Mathern, Chepstow, which has 180 employees, is up for sale.
Mabey Bridge is now seeking staff to apply for voluntary redundancy. The move has shocked many of the staff, while a few had guessed that the changes were on the cards.
An employee said: “The announcement today is that the infrastructure side is gone, that it will finish. It was just shock, complete and utter shock; very few could believe that they have taken such as drastic decision."
Mabey Bridge has a strong position in construction, specialising in bridges and had more recently ventured into the renewable energy market with the build of turbine towers.
It had reported pre-tax losses of £42.4 million for the year ending 30 September 2013, down from £15.7 million in 2012.
The move will enable the business to work towards a stronger future for its modular bridges business in Gloucestershire.
The group as a whole comprises Mabey Bridge, Mabey Hire, Mabey Hire PTY, Mabey Property and Mabey Inc and is located in the US, England and Wales with over 1,000 employees in total.
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