Avingtrans, which designs and manufactures components and services for the aerospace, energy and medical sectors, is to sell its Aldridge site, which houses its Maloney Metalcraft business; the sale of the facility forms part of the parent company’s re-structuring programme (announced last November). The front engineering and technical offices of the building will be leased back to Maloney Metalcraft by the unnamed buyer, allowing the company’s design and engineering activities to remain at the site.

Austen Adams, managing director of Avingtrans’ energy and medical division, said: “I am pleased to have successfully concluded the sale of the Aldridge site in line with our stated re-structuring plans. This deal delivers value to our shareholders and allows Maloney Metalcraft’s design and engineering team to remain at Aldridge, thereby avoiding any disruption to their continuing business operations.”

Maloney Metalcraft (formerly Exterran UK) was rescued by Avingtrans in 2013 and bought for a token £1. The company designs and makes products for the global oil and gas market, including equipment for petroleum production and gas processing.