Marcegaglia UK completes a Liberty Precision Tubes asset purchase
Dudley, West Midlands – Marcegaglia UK LTD completes the acquisition of precision steel tube manufacturing assets from Liberty Precision Tubes Limited at its Oldbury site in the West Midlands.
After a successful two-year operational assessment of the assets while operating under a licence agreement, the decision to complete the purchase has been agreed. The purchase of assets safeguards a number of jobs in the local area and provides for a sustainable future for the site and its employees who will TUPE transfer from Liberty Precision Tubes Limited to Marcegaglia UK as part of the deal.
During the two-year assessment, Marcegaglia UK has used the assets to contribute to its existing business, which has aided the expansion of the company’s footprint in both UK and international markets.
Even though the asset purchase has been completed Hub le Bas Limited and Accles & Pollock Limited will continue to trade as normal and its downstream businesses will remain unaffected as a result.