Jobs saved as Newcastle welding firm bought from administration

Seventeen jobs have been saved at a North East welding company which has been bought out of administration.

Newarc, which is headquartered in Newcastle, had seen a downturn in trade that led to administrative measures, but has now been bought by national welding manufacturer Weldability.

Specialist business advisory firm FRP had been appointed administrators for Newarc.

Commenting on the deal, Martyn Pullin, partner at FRP, said: “Newarc is a fantastic business but the well-documented issues facing the oil and gas sector had taken their toll over time and placed significant cashflow pressures on the company.

“This deal delivers the best result for all stakeholders, and most importantly saves jobs in Newcastle and Aberdeen as well as ensuring continuity of trade for customers.

“Weldability is a well-known and trusted provider of welding, cutting and fume-extraction equipment here in the UK and across Europe, we wish the team the best of luck moving forward.”

Gareth Hawkins, managing director of Weldability, added: “Newarc is a recognised and trusted British manufacturer and its core products are known for their robustness and reliability.

“Weldability is delighted to be able to add Newarc to its range of welding solutions, and to extend its operations into the North East of England and Aberdeenshire.”