No Promises Cheat Codes feat. Demi Lovato
11 December 2015, 12:11
It's been announced more than 600 jobs have been saved at the West Midlands based steel company Caparo.
It's because most of the remaining businesses of Caparo Industries group - based in Oldbury - have now been sold off.
The administrator says the Gupta family, which manages metals group Liberty House, has bought more of its manufacturing plants.
Caparo had around 20 businesses, mostly in the Black Country - before it collapsed in October.
Over 1,000 jobs have now been retained since administrators were called in.
Russell Farrington, regional officer of the GMB union, said:
"This is excellent news for the West Midlands at this time of year, coming up to Christmas.
"This will hopefully put workers' minds at rest at this uncertain time. It has been a worrying few months for the workers that are left at Caparo and we hope they can now enjoy the festivities.
"Over half of the workforce has been saved totalling 623 employees with the sale of 10 Caparo sites being sold to the Gupta family. These skilled workers have shown loyalty under very difficult circumstances."