Preston casting manufacturer rescued saving all 80 jobs
The business and assets of Coupe Foundry in Preston have been sold out of administration, securing the jobs of all 80 staff.Coupe Foundry has traded for more than 100 years with the original directors undertaking a takeover of the business in 2004.
The castings manufacturer has established a strong reputation and is the UK’s largest jobbing foundry, supplying cast iron, ductile iron, alloyed irons and steel castings to a wide and varied customer base throughout Europe.The business was placed in the hands of joint administrators Jason Elliott and Craig Johns of Cowgill Holloway Business Recovery on 27 January 2014. Following appointment, 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. “This is a well-established business with a loyal customer base which has been faced with extremely challenging trading conditions,” explains said administrator Jason Elliott. “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.”