Covpress sale saves 740 jobs
Historic vehicle pressings maker Covpress has been rescued out of administration by Liberty House, saving 740 jobs in Coventry.
The deal Liberty House subsidiary Liberty Industries Group was completed by administrators from Grant Thornton, who were called into Covpress in October 2016. The business will be renamed Liberty Pressing Solutions.
Covepress counts Jaguar Land Rover (JLR), Renault and GM among its clients, while Liberty Industries also supplies JLR, Nissan, BMW, GKN and Unipres among others.
A statement from Liberty said the addition of Covpress is a “strong strategic fit with its established and rapidly-expanding presence in the automotive supply chain”.
Douglas Dawson, chief executive of Liberty Industries Group, said: “We are very familiar with the high quality of the operation at Covpress and the skills and equipment in the business. As such we are extremely pleased they are becoming part of the Liberty Industries Group…