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Loss-making Eliza Tinsley plant closes

PLANT

ONE of UK plant's largest component suppliers, Eliza Tinsley, has closed a factory and made 160 people redundant in the wake of weakening demand.

The £80 million turnover buckets to fabrications firm will shut its loss-making Chesterfield plant by May, blaming the high cost of UK manufacturing, poor demand and volatile markets.

Tinsley has been moving production to lower-cost countries and is transferring Chesterfield's production to its other plants in northern England and Italy.

Chairman Michael Borlenghi said the closure would cost £2.8 million, but the factory sale and reduction in capital would make the action cash-positive overall.