Bright future for company bought out of administration
TEN jobs have been saved after a mechanical supplier was bought out of administration.
Jacksons Power Transmission, in Tunstall, has been bought by HMK Automation Group, of Congleton.
The new business – JPT Mechanical Drives – will initially continue to trade from the same address and with the same team.
Now officials at HMK are aiming to more than double Jackson's turnover in three years, from £2 million to £5 million.
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The firm was placed in administration earlier this month after being up for sale for a number of years.
Its purchase by HMK, for an undisclosed sum, was negotiated by joint administrators Lila Thomas and David Acland, of Begbies Traynor.
HMK chief executive Carl Krajewski said: "We're delighted to announce the acquisition of Jacksons Power Transmission.
"We're pleased to be able to preserve all 10 jobs at Jackson's site in Stoke-on-Trent and will be seeking to grow the business over the next 12 months as it becomes an integral part of the automation business within our group. The plan is to take this division from a £2 million turnover to a £5 million business within three years.
"We're also aiming to relocate to larger premises within the area to provide greater capabilities for handling heavier gearboxes and motors and to develop an electromechanical projects business."