Although the other two sister factories were acquired by auto suppliers, workers in the Essex factory will lose their jobs
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A factory in Essex announced that it would close, and 64 workers are at risk of being laid off.
LIBERTY Aluminium Technologies (LAT) in Witham will be closed, while its other factories in Coventry and Kidderminster have been rescued after being sold to automotive supplier Evtec Aluminium.
These factories are owned by metal and industrial businessman Sanjeev Gupta and put on the market to refinance his international GFG company. The global business group has been struggling financially after the collapse of Greensill Capital, a major group financial backer in March.
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However, after Jaguar Land Rover (JLR) stepped in, the Liberty Aluminium Technologies foundries in Kidderminster and Coventry saved a total of 170 jobs.
A spokesperson for the GFG Alliance said: "In recent years, due to structural changes in the automotive industry, LIBERTY Aluminum Technology (LAT) has been under tremendous commercial pressure, which has created very challenging conditions for customers, especially original equipment manufacturers. .
"After a strategic review of the options, the GFG Alliance will reorganize LAT and spin it out to Evtec Aluminum Co., Ltd.
"The transaction will secure the future of more than 170 jobs and ensure that the Coventry and Kidderminster plants continue to serve LAT's solid long-term customer base.
"However, due to the reorganization, we regret to announce that LAT's Witham plant will be closed. Sadly, this may result in about 64 layoffs.
"When we enter the consultation period at Witham, we want to thank all employees for their hard work, who consistently provide customers with quality products and services during uncertain times."
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