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Changing business structure at Nasmyth Group
Bulwell Precision Engineers, a subsidiary of the Nasmyth Group, has announced it will be transferring its share of ownership of Metal Process Services (MPS) to its fellow shareholders.
Nasmyth Group, a global precision engineering and metal treatments business, acquired Bulwell Precision in 2003. The acquisition of Bulwell’s shares in MPS, by MPS, will allow that company further investment to grow in the short and long term creating new business opportunities. Bulwell Precision Engineers will remain under the 100% ownership of Nasmyth Group and there will be no change in the management of this business.
A strong partnership has been developed over many years, with MPS providing metal processing for the precision machined products manufactured by Bulwell and other Nasmyth Group companies, and Bulwell providing machining services for MPS for their use and onward processing.
Peter Smith, chairman and CEO commented “We have developed a strong partnership with MPS and I am sure we will continue to do so with new trading arrangements being put in place that will allow further business opportunities for both companies. We wish MPS every success”.
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