Bradman Lake Group, the UK packaging machinery manufacturer, has been bought by engineering conglomerate Langley Holdings after it fell into administration.
The sale yesterday (17 October) by administrators from PricewaterhouseCoopers saves 260 jobs at Bradman Lake’s sites in Bristol and East Anglia, as well as 100 at its US and German operations.
The sale comprises the business and assets of Bradman Lake companies BL Bristol Group, BL Bristol and BL Group.
A PwC spokeswoman said Bradman Lake had gone into administration because it did not have "the right capital structure".
Bradman Lake Group specialises in cartoning, case-packing, flow-wrapping and shrink-wrapping equipment, and operates under the Bradman Lake, Autowrappers and Europack brands.
After moving into a new manufacturing site in Norwich in August, it revealed plans to launch dozens of new products.
Around 60% of the group’s £35m sales come from overseas markets, and this year it has opened new offices in Moscow and Shanghai.
Earlier this year, the group sold its Albro, Dico and Gravfil filling equipment brands to a management team.
Langley Holdings has grown in recent years through acquisitions in overseas markets, including Germany and France. It has sales of £350m and employs 2,500 people, and operates in a variety of industries, including aerospace, energy and railways.
The sale yesterday (17 October) by administrators from PricewaterhouseCoopers saves 260 jobs at Bradman Lake’s sites in Bristol and East Anglia, as well as 100 at its US and German operations.
The sale comprises the business and assets of Bradman Lake companies BL Bristol Group, BL Bristol and BL Group.
A PwC spokeswoman said Bradman Lake had gone into administration because it did not have "the right capital structure".
Bradman Lake Group specialises in cartoning, case-packing, flow-wrapping and shrink-wrapping equipment, and operates under the Bradman Lake, Autowrappers and Europack brands.
After moving into a new manufacturing site in Norwich in August, it revealed plans to launch dozens of new products.
Around 60% of the group’s £35m sales come from overseas markets, and this year it has opened new offices in Moscow and Shanghai.
Earlier this year, the group sold its Albro, Dico and Gravfil filling equipment brands to a management team.
Langley Holdings has grown in recent years through acquisitions in overseas markets, including Germany and France. It has sales of £350m and employs 2,500 people, and operates in a variety of industries, including aerospace, energy and railways.
Source: packagingnews
No comments:
Post a Comment