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UK - Buyer hope for doomed Mazak

A potential buyer has been found for a doomed historic Bloxwich firm, it emerged today. Administrators at Mazak Ltd, in Willenhall Lane, confirmed they were in discussions with “at least one” interested party about buying parts of the business. A total of 50 workers have been axed at the metal alloys company, which went into administration last Monday. Around 15 have been kept on for the time being by administrators Smith & Williamson. A factory has been on the site since 1902 when it was known as The Delaville Spelter Works. It now produces alloys for the car parts industry, serving customers in the UK, Western Europe and the Far East.

James Money, of Smith & Williamson, today said he was hopeful a deal could be reached. “From our point of view, any progress is good,” he said. “We do have interested parties and are doing all we can. The danger is that there is no deal until it is actually signed and the last thing we would want to do is to give anyone false hope. “Operations are continuing on a day-to-day basis at the moment and that will remain the case as long as they are profitable.” The company, known locally as The Spelter, produces zinc-based alloys for diecasting and galvanising, and zinc-based pigments for the paint and pharmaceutical industries. A worker at the site, who asked not to be named, said: “There are only a few of us left now and everyone is hoping they can salvage something.” The firm has a base in Slovakia, and several customers in the UK, Western Europe and the Far East. In 2003 the firm expanded its then £35 million-a-year business after a £5.25m deal.

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