April 19, 2023
MB Engineering Solutions Ltd has safeguarded the future of 200 jobs after successfully completing the acquisition of its current site at Motherwell.
Company chairman Hugh Hayes announced the acquisition which was completed on Friday 15 April 2023 following extensive discussions with the Receiver of Motherwell Bridge Holdings Ltd.
Formed in 2003 after the major restructuring of Motherwell Bridge, MB Engineering Solutions manufactures aero-engine components and provides specialised engineering design, construction, maintenance, shutdown and project work services to clients throughout the world from its headquarters in Motherwell.
Mr Hayes said: “Over the course of the past 18 months the company has made a dramatic turnaround and two of our main aims have always been to preserve jobs and ensure the long-term future of the company here in Motherwell.
“Today’s announcement is a tremendous boost for the company and serves to highlight our commitment to the staff and to the local area.”
Mr Hayes confirmed that the company had achieved a substantial improvement in trading. Results for its first full year of trading through to June this year will be announced before the end of August.
He said: “Our profits are currently ahead of budget and borrowing repayments have been accelerated. All payments due to the old Motherwell Bridge pension scheme have been made on time, but what is important is that our banks continue to fully support us, and they are of course delighted that we have done so well to date.”
MB Engineering Solutions has also invested heavily in one of its main trading subsidiaries MB Inspection, which is set to launch a new facility in Falkirk in May. In addition, MB Inspection has also agreed a lease for a newly refurbished site in Dyce, Aberdeenshire.
Mr Hayes added: “Our new site in Falkirk will be fully operational in May this year, and apart from being the trading centre for the Scottish central belt, it will also be our principal training centre for the whole of the UK.
“Following a period of robust growth we have had to secure larger premises for the Aberdeen operations of MB Inspection and HiRope and we expect to move into our newly refurbished property in Dyce during the course of the summer.
“The growth prospects for MB Inspection across the UK are excellent, and the new properties in Aberdeen and Falkirk complement the excellent facilities we already have in place in Stockton and Great Yarmouth. They will enable us to continue to provide a full service to our clients throughout the UK, both on-and offshore.”