Halifax-based MTTG has acquired the brands, patterns, drawings, designs, spares and service operations of BSA Machine Tools.
BSA administrators Tom Lukic and Tom Jack explained the company's situation in a statement: “In the period leading up to the administration, the company’s cash flows came under significant strain, due to falling demand for the company’s services (the manufacture of high quality lathes) as a result of adverse market conditions, including the falling price of oil, and delays and difficulties encountered in completing a major contract.”
Of the sale to MTTG, Lukic says: “The sale has resulted in 11 employees transferring to MTTG. A further three employees are being retained in realising the remaining assets of BSA and winding down the affairs of the company.
“Regrettably, it has not been possible to secure a future for the machine manufacturing part of the business and this has led to the loss of 15 jobs. A further three employees have been retained to assist the joint administrator’s realise the remaining assets of BSA.”
Carl Griffiths, managing director of MTTG, offers: “MTTG operates a large and diverse machine tool servicing, maintenance and parts supply division from our Yorkshire base, and already exports machine tools and services internationally to countries such as China, Taiwan, USA, Europe, India, Africa, Australasia and the Middle East.
“This acquisition will benefit the entire group by enabling the company to offer a more diverse range of machine tool services. But, more importantly, for previous customers of BSA Machine Tools it will mean continuity of maintenance, servicing and parts supply.”
