Dozens of Caparo jobs saved as part of business is sold off
Dozens of Caparo jobs have been saved as it emerged part of the operation had been sold off .
The non-destructive testing part of Caparo Testing Technologies (CTT), including a site at Popes Lane, Oldbury, is the first Caparo business to be sold off since the Oldbury-based group went into administration last month.
The move has already seen many firms closed with 323 jobs going across the region. The sale to Applus+, which operates in more than 70 countries, saves 76 jobs across the country.
It is not clear how many of those are in the West Midlands.
Administrators PricewaterhouseCoopers said CTT has three other locations and two customer sites across the Midlands and south of the UK.
The business operates in Oldbury, Reigate, Luton and Poole, conducting non-destructive testing of parts in a range of sectors with a particular focus on aerospace and aviation.
Robert Moran, partner at PwC, leading the Caparo sales process, said: "The sale of Caparo Testing Technologies to Applus+ represents a highly strategic acquisition and demonstrates the quality of this business.
"It is also great news for 76 employees of the Caparo Industries Group. We would like to thank all of the Caparo people involved for their dedicated support in securing this transaction.
"We continue to hold advanced and encouraging discussions with a number of parties around the sale of remaining Caparo Industries Group companies."
The sale does not include CTT's destructive testing operation at Planetary Road, Willenhall. That business is continuing to operate as usual.
Partners from PwC were appointed as administrators to 16 companies in the Caparo Industries Group on October 19.
