Firm saved by eleventh-hour buy-out
PUBLISHED: 17:03 15 October 2015
A YATTON firm which stood on the brink of closure has been saved at the eleventh hour after a buyer was found.
Titan Ladders has been operating from the village for the past 80 years, but had gone into administration and was on the verge of closing its doors forever.
However, West Midlands investor firm Metro Estates has now stepped in to buy Titan, with the new owners confirming this week they will be investing in new North Somerset premises.
Around 25 per cent of jobs have already been confirmed as saved, with this figure expected to rise to 50 per cent ‘once further rationalisation and modernisation have taken place’.
Metro Estates director Christian Broadhurst said: “I am delighted to be involved in the revitalisation of Titan Ladders to ensure that the company will continue British manufacturing for many years to come.”
At its peak, Titan had a turnover of £5.5million and exported its products as far afield as the Middle East and Hong Kong.