Last part of Caparo closes with loss of 33 jobs

Staff at Ductile Stourbridge, a steel strip rolling mill in Willenhall, were told at lunchtime today.

Administrators from PwC said all staff affected would be paid for their work.

Matthew Hammond, PwC partner and lead administrator said: "After saving a total of 1,1111 jobs at Caparo, it is with regret that we have made these decisions today. Despite sustained efforts to find a solution, including approaching key stakeholders in a bid to preserve funding, it was not possible to find a buyer for the business.

"Without a buyer or the ability to continue to trade economically, we were forced to take the difficult decision to close the unit with immediate effect. Those staff affected by today's announcements were consulted and kept fully informed throughout the entire process.

"We thank those former members of staff for their service to CIP; we will work closely with them, their representatives and agencies to provide support and ensure that their redundancy and other claims are handled efficiently at this difficult time.

"We will also work closely with other bodies who naturally will want to assist at this time with regard to future employment opportunities."

Around 500 workers have lost their jobs since the Caparo Industries group of 16 companies went into administration in October.