Foundry reopens doors

The foundry went into receivership in May

A Mansfield iron foundry is back in operation after a financial rescue package saved the company from closure.

James Maude and Co went into administrative receivership in May.

But a £250,000 rescue package has led to a management buy-out.

On Monday the backers, including the county council, celebrated the launch of Sherwood Castings Ltd.

Manufacturing base

The 42 workers will return to the site on Forest Road, which dates back to the eighteenth century.

The firm's executives are confident the future finally looks secure.

Chris Winterton, the lead member for the county's economic development said: "It's very important we understand the value of manufacturing companies in this country.

"Far too many manufacturing companies are going to the wall.

"We know service sector jobs are plentiful but we do believe we have to maintain a base of manufacturing in this country so I am very pleased these 42 jobs have been saved."