Jobs saved at steel group

Hundreds of jobs have been saved following the sell off of a number of firms owned by a Stourbridge-based steel holding company.

The Birmingham-based Revelan group has bought five of the companies from administrators handling the affairs of David Fabb Holdings Ltd.

The companies include Servosteel in Dudley and Stourbridge, Fairmile Fencing at St George's in Telford, Phoenix Metal at Bridgnorth and Hornsey Gates and Engineering at Jackfield in Shropshire.

Another subsidiary, Jones of Oswestry, has been sold to Technocover Limited.

Administrator Deloitte and Touche said negotiations were continuing with buyers for another company in the group and two smaller businesses had been closed.

The group employed more than 500 people across the West Midlands and Shropshire.

Steel magnate David Fabb bought Servosteel, formerly Weldall, about 15 years ago.

The company is a major processor to many UK steel users.

Hornsey Gates and Engineering is one the UK's largest manufacturer of farm gates and sheep hurdles.