JOBS have been saved in Oldbury after administrators announced the sale of part of the Caparo empire.

PwC revealed the sale of Caparo Testing Technologies to Applus+, a company operating globally in the testing, inspection and certification sector.

The deal safeguards the jobs of 76 employees based in four locations and two customer sites across the Midlands and South of the UK.

The business operates in Oldbury in the West Midlands, Reigate, Luton and Poole, conducting non-destructive testing¹ of parts in a range of sectors with a particular focus on Aerospace and Aviation.

Robert Moran, partner at PwC, leading the Caparo sales process, said: “The sale of Caparo Testing Technologies to Applus+ represents a highly strategic acquisition and demonstrates the quality of this business.

"It is also great news for 76 employees of the Caparo Industries Group. We would like to thank all of the Caparo people involved for their dedicated support in securing this transaction."

He added: “We continue to hold advanced and encouraging discussions with a number of parties around the sale of remaining Caparo Industries Group companies.”

The future of the rest of the Caparo empire is uncertain with over 1,000 jobs still under-threat.