Sale 'secures 46 aluminium jobs'

Forty six jobs have been secured by the sale of a firm manufacturing aluminium castings, administrators say. Precision Cast-Components, of Usk Way, Newport, went into administration in September 2008. The company has been acquired by a new business created by former management and supported by private investment. Alistair Wardell of Grant Thornton said the firm was "a leading business of its kind" with strong relationships with a number of blue chip rail customers. The company has been involved in major refurbishments of the Circle and Metropolitan lines of the London Underground. Mr Wardell said administrators had worked "extremely hard to secure a sale and secure the future of a considerable number of the workforce".