More than 200 jobs could go at Crane Fluid Systems' Ipswich plant following the manufacturer's decision to sell the facility's land and buildings for 18m and move production to China.
The manufacturer of valves and fittings used in controlling the flow of liquids and natural gas, announced in December it had sold the site's buildings and land to Borderbeach Ltd, a subsidiary of Allied Property and Leisure Ltd. During 2008, production will move to the company's facilities in China and Hitchin. Crane Fluid's Ipswich facility used to employ 700 workers but production has gradually been moved from the site which currently employs 210 workers. The firm said that whilst some of the production will move to China, some will remain in the UK but just how much of production will remain in the UK was yet to be decided. Eric Fast, president and CEO of Crane Co said, 'The sale of this property is consistent with our strategy of consolidating manufacturing operations to reduce costs, while at the same time continuing to provide our customers with high quality products. 'This restructuring is another important step toward reaching our previously announced goal of achieving a 15% operating margin in our Fluid Handling segment.'