TAXI cab manufacturer Manganese Bronze has agreed the sale of its components division – including its operations in Ipswich – in a deal valued at £8 million.
TAXI cab manufacturer Manganese Bronze has agreed the sale of its components division – including its operations in Ipswich – in a deal valued at £8 million.
The division, which also includes businesses in Birmingham, Redditch and Beverley, is to be acquired by BSA Holdings, a new company formed for the purpose by a trio of private equity investors.
Just under 200 people are currently employed at the Ipswich site, off Hadleigh Road, which produces iron and bronze components from metal powder, principally for the automotive industry.
Simon Clarkson Webb, one of the investors behind BSA Holdings, said numbers at the Ipswich site were down from around 250 last year but plans for the site should mean some additional jobs, initially on a temporary basis.
He added that the Ipswich site was operating highly efficiently and was well placed to compete successfully with larger rivals in supplying major vehicle manufacturers.
Besides the Ipswich operation, the components division includes businesses making powdered metals (Birmingham), precision castings (Redditch) and powered doors for buses (Beverley).
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