Jobs secured at rail parts plant

Oleo International designs buffers for railways across the world

More than a 100 jobs have been saved at the West Midlands manufacturer Oleo International after a buyer was found for the company.

Brigam Limited, of Wolverhampton, has bought Oleo as a going concern after Wagon Automotive, its parent company, went into administration in December.

It means 102 jobs in the UK and 30 in China have now been secured.

The company has been based at Exhall, in Coventry, for 60 years and makes railway end stops and buffers.

Oleo, which has customers across the world, said it had a full order book.

'Long term business'

Its managing director, Allan Binstead, said: "We recognise a number of suppliers may have suffered as a result of Wagon PLC going into administration but we would like to thank those who have supported Oleo through the administration process."

Wagon Automotive was forced to lay off 292 workers at its Walsall manufacturing plant after the UK arm of the car parts business was hit hard by the global slump in sales.

Sul Sahota, chairman of Brigam Ltd, said he has been interested in acquiring Oleo for a number of years.

He said: "I am now really looking forward to working with the management team to take the business forward and developing a strong long term business."