Plant jobs saved as Flaretec is sold on

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All 21 jobs have been saved at Chesterfield plant manufacturer Flaretec Alloys and Equipment.

Insolvency specialist Wilson Field was appointed administrator of Flaretec before Christmas, when the Holmewood Industrial Estate company hit cashflow problems and was under pressure from its creditors.

Now, the company, has been sold for an undisclosed sum to Hephaestus Holdings, a Hertfordshire-based investment group that specialises in turning round struggling manufacturing businesses.

 

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