Iain Townsend News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The new owner of the huge Cleveland Bridge site in Darlington has revealed his plans for its future.

Cleveland Bridge staff have expressed anger after the company’s administrator made almost a quarter of workers redundant. On Tuesday evening, 53 workers

After almost 150 years, it comes down to hours and minutes - and this morning the future of Cleveland Bridge looks as dark as it has ever done. There has still been no confirmation of any actual bids - due by midnight - and no sign of any more emergency funding to keep production going. If it happens now it will be a Cleveland miracle. It’s possible until the last second, of course, but so much more unlikely as the clock keeps ticking. A meeting at 2pm today looks like the key moment for more than 200 workers at the site and hundreds more in the supply chain working for this much-lo...

Saudi-owned Cleveland Bridge up for sale as Covid crisis bites RIYADH, 16 hours, 23 minutes ago Leading UK steel fabricator Cleveland Bridge, which is owned by Saudi-based Al Rushaid Group, has fallen into administration, reported  the Construction Index.  The collapse for the top British engineering group came after Covid caused delays to several of its global infrastructure projects. Joint Administrators Martyn Pullin, David Willis, and Iain Townsend of specialist business advisory firm FRP have been appointed to help save the steel fabricator, which has 221 staff at its Darlington h...

Construction firms in the UK and overseas will be eyeing up a move for Cleveland Bridge, according to market analysts. Keltbray, JRL Group, Morrisroe or even a Chinese construction firm could be lined up as prospective buyers for the troubled specialist steel contractor, according to construction finance specialist DRS Bond Management director Chris Davies. The firm, founded in 1877, appointed Martyn Pullin, David Willis, and Iain Townsend of specialist business advisory firm FRP as joint administrators on Thursday morning. Staff had been informed of potential job losses on Wednesday and told...