One-man rescue operation keeps firm going and saves jobs

Published: April 12, 2006 | 3967th good news item since 2003

WIRRAL man Steve Owens has stepped in to rescue the firm he worked for and safeguarded seven jobs in the process.

Mr Owens was a marketing manager for Birkenhead-based Huntington Marine Engineering Services when it collapsed in September with debts of more than £100,000.

He was convinced the business, which makes aluminium and stainless steel products for clients ranging from the Ministry of Defence to construction firms, had a future and has now completed a £200,000 one-man management buy-out.

Mr Owens said: “I’d been here for two years, working mostly on the marketing side and I was convinced that there was huge potential.

“So I took it over and my investment up to now comes to almost £200,000. And I haven’t been paid since September either!”

The buy-out, helped by support from Wirral Direct, has ensured the company is in place to do more than just survive.

“We’re developing a new product for the healthcare market,” added Mr Owens.

“We’re working with a Yorkshire firm which has designed a new breed of rapid-response vehicle.”

The Merseyside Manufacturing and Automotive Group (MAG) is providing mentoring support for the company’s development over the coming months.

The company expects increased business from the MoD as the Iraq conflict winds down and Royal Navy ships come home for refurbishment. Huntington has supplied guard rails for naval vessels for several years.

Published in Economics
See also: icliverpool.icnetwork.co.uk
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