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VPTA sales.

The joint administrators Vickers Pressings Tolwood Automotive Limited, Richard Fleming and Graham Newton, from KPMG Corporate Recovery, have sold the part of the business based at sites in Newcastle and Wolverhampton to Widney plc.

The deal, which sees a total of 245 employees transferring to Widney, completes the sale of the VPTA business.

Earlier this month, the administrators sold the part of the business based in Newton Aycliffe to Tolwood Technologies Limited, while the Walsall site was sold to one of VPTA's Taiwanese suppliers.

Go for growth

BRIDGE Club, a privately-funded company dedicated to connecting enterprising people, is expanding its staff and membership, thanks to assistance it has received from Middlesbrough chartered accountancy firm Keith Robinson and Co. The team is working with club founder Caroline Theobald to help plan business growth. A detailed plan has been put in place, which has already assisted in the employment of more workers and the securing of new premises.

Training event

NORTH-EAST businesses are being offered free training to develop their people at an event on Thursday at Newcastle Racecourse. The Learning and Skills Council and Business Link are working in partnership to bring this major initiative to all companies and organisations in the region that are interested in training and developing their employees.

New contract

LAMBERT Smith Hampton has been reappointed to carry out the Environment Agency's five yearly property valuation. The firm's Newcastle office will handle work across the whole of the North-east, working with the national network of 27 offices which will value more than 190 of the Environment Agency's office and depots throughout England and Wales.

Waitrose buy

SUPERMARKET chain Morrisons has exchanged contracts with Waitrose to sell the Safeway store at Biggin Hill, near Bromley. The gross assets of the store are worth pounds 17.3m and the new owners will officially gain control towards the end of January.

On the up

BUY-to-let mortgage firm Paragon posted an 8pc rise in pre-tax profits to pounds 76.8m for the year to September 30. The Solihull-based firm, which also offers personal loans and vehicle finance, said it had made a "strong start" to the new financial year.
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Title Annotation:Business Weekly
Publication:Evening Gazette (Middlesbrough, England)
Geographic Code:4EUUK
Date:Nov 29, 2005
Words:358
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