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United Engineering Forgings
United Engineering Forgings has sold its Kidderminster-based automotive connecting rods business out of administration to Smethwick Drop Forge, saving 70 jobs.
United Engineering Forgings is to invest up to £10m at its Sheffield factory having won a £45m order to supply engine crankshafts to Iveco and New Holland, and the deal will also secure jobs at its plants in Bromsgrove and Lincoln.
United Engineering Forgings is selling its Lincoln-based aerospace division to Precision Castparts Corporation of the US for £22m, in order to focus on its automotive and cylinders operations.