Caparo Tubular Solutions manufactures, distributes and supplies advanced tube components and parts for the automotive and aerospace industries in the West Midlands and South Wales.
It includes the businesses of Caparo Precision Tubes Oldbury, Caparo Tube Components, Caparo Accles and Pollock, Hub Le Bas and the Caparo Tubes Tredegar asset.
Robert Moran, partner at consultant PwC, which is leading the Caparo sales process, said: “The sale of Caparo Tubular Solutions is a major boost for the Midlands economy, the employees of Caparo and more widely for the UK steel industry…
“This is third deal to be completed out of the CIP (Caparo Industries Group) administration, following the recent sales of Caparo Wire and Caparo Testing Technologies. We would like to thank all of the Caparo people involved for their dedicated support in working with the administrators to secure this transaction.
“Sales to date have led to a total of 488 Caparo people being transferred and remaining in employment. We continue in advanced discussions with parties relating to interest in other Caparo Industries Group companies."
