MABEY Bridge’s wind turbine tower plant in Chepstow closed last week.
Despite “exhaustive efforts” to find a buyer for the Chepstow site, Mabey confirmed that its site on the Newhouse Industrial Estate would close, following consultations with all affected staff.
Last December, Mabey Bridge announced that it was looking to sell the factory but a buyer could not be found to meet the company’s valuation.
It was reported last week that Uskmouth power station owner Simec made an offer of £8.5m for the Chepstow site with the intention of keeping the plant open and its 150 workers employed.
This offer was rejected by Mabey Bridge.
A small number of employees have been retained by the company at the Mabey Bridge’s Lydney site.
The remaining employees will be made redundant.
In a statement on Wednesday, the company said: “Despite continued efforts to improve productivity whilst making quality products, this still has not been enough to overcome the realities of an exceptionally competitive international market for renewables.”
Juliette Stacey, chairman of Mabey Bridge, said: “We have explored every avenue available to us in a bid to keep the site open, but sadly it has not been possible to do so.
“Mabey Bridge will continue its activities from its facility and offices in Lydney, Gloucestershire, as a business that provides high quality modular bridging and infrastructure solutions in the UK and overseas.
“I would like to thank all of our staff at Newhouse who have worked diligently to meet the commitments to the customers of the Renewables division prior to its closure.”
“This is a difficult day for Mabey Bridge but we will now focus on building a stronger and more sustainable future for the business.”
The closure comes a year after winning a Monmouthshire Business Award where the factory was praised for “demonstrating excellence in all areas”, and showing a “firm commitment” to innovation and enterprise.
Mabey Bridge, which opened in 2011, was praised for its high quality apprenticeship schemes and strong community outreach, while being said by judges David Jamilly and Gurpareet Bains to “fly the flag for Monmouthshire and British industry across the world
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