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Birmingham Post

Business

Lauren Phillips

Jobs saved after Bemaco Steel in Cardiff acquired out of administration

Cardiff Andrew Sheridan

Cardiff-based Bemaco Steel has been bought out of administration in a deal safeguarding its 20 strong workforce.

The company operating at the Port of Cardiff has been acquired by FXSteel in a £4.6m deal facilitated by specialist business advisory firm, FRP Advisory.

Andrew Sheridan and Jonathan Dunn were appointed joint administrators for Bemaco on 25 April and immediately secured a pre-pack sale of the company to connected party FXSteel.

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