Preston casting manufacturer rescued saving 80 jobs

A Preston-based casting manufacturer has been bought out of administration, saving 80 jobs.

Coupre Foundry Limited is over 100 years-old and is claimed to be the UK’s largest jobbing foundry, supling cast iron, ductile iron, alloyed irons and steel castings to customers throughout Europe.

The business was placed in the hands of joint administrators Jason Elliott and Craig Johns of Cowgill Holloway Business Recovery on January 27 2014.

Administrators continued to trade the Foundry while conducting a full marketing exercise to find buyers for the business, and a sale to a new company to be known as Coupe Castings Limited was completed 10 days later.

The new company is co-owned by Shakespeare Foundry, a well-established North West business, which will complement the offerings of Coupe Castings, and Eaves Machining Ltd, a former customer of Coupe Foundry Ltd.

Joint administrator Jason Elliott said: “This is a well-established business with a loyal customer base which has been faced with extremely challenging trading conditions.

“Not only are we delighted to have been able to achieve a sale of the business but additionally, the combined experience and knowledge of this sector that the purchasers bring should ensure a long term viable future for the business and its employees, which is great news for its staff and customers.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.