A HOLME Valley engineering company has been saved - after being sold by administrators.
Honley firm Bank Bottom Engineering Ltd has been bought from administrators by Slaithwaite-based Hystat Systems Ltd for an undisclosed sum.
The move secures the future of 20 workers at Bank Bottom.
The company had been in the hands of administrators for six months after running into financial problems.
Hystat, founded 27 years ago, employs about 50 workers designing and making hydraulic equipment for moving bridges, steelworks and the power industry.
Bank Bottom Engineering was founded 52 years ago and provides general machining and engineering services as well as making products for the textile industry.
It also makes components for state-of-the-art computer- controlled machinery.
The takeover was financed by GE Commercial Finance Ltd.
Following the deal, Ray Wadsworth, majority shareholder at Hystat Systems, becomes chairman of Bank Bottom Engineering.
David Robbins, the previous owner of Bank Bottom Engineering and grandson of its founder, remains managing director. Malcolm Hellawell continues as works director.
Simon Wells, director of GE Commercial Finance, said: "The Hystat Systems management team considered the acquisition carefully and we are confident it will prove a profitable one."
Mr Wadsworth said: "Hystat has used Bank Bottom as a supplier for a number of years, so we know the business well.
"The cross-selling opportunities offered by the acquisition make it a shrewd move for us.
"Bank Bottom is a business that has been punching well below its weight - and with GE Commercial Finance's funding we look forward to seeing it operate once again as a profitable business."
