185 people will lose their jobs after the world's oldest cable enterprise closes its factories.
AEI cable, located in Bethel, Gateshead, UK, has been in operation for 175 years. It is one of the oldest and most respected cable manufacturers in the world. Its main business in the past three years is the production of industrial cables including construction, railway, oil and gas drilling, etc
recently, AEI cable announced that it would close the factory in Bethel, which would cause 185 people to lose their jobs. In September 2016, AEI cable entered a 45 day shutdown negotiation
the company sent a letter to employees saying that the plan to find a buyer failed, and the company's contracts have expiredThe spokesman of AEI cable said that except for 40 employees who will finish their work in March, other employees will leave the factory before the end of this week. The sales and management department will retain 13 employees to continue to work until September, but the specific position remains to be determined. The labor contracts of most employees in Bethel factory have expired
the letter said: "although the bethel plant has obtained important investment in the past two and a half years, the necessary profitable production level has not been achieved, resulting in CAIZAI @6. When all are ready, press the electromechanical start button to control the heating and cooling rate according to the slope of the set curve, so the plant cannot operate."
"unfortunately, neither of the two quotations of the intended company is feasible. Without a buyer, the factory in Bethel can only stop production." The letter said. AEI cable management has always wanted to sell the plant or operate the plant as a distribution center
last year, the parent company Dubai cable said that the bethel plant was experiencing significant losses. AEI cable was purchased by Dubai electric Jinan new era Gold Testing Instrument Co., Ltd., the largest cable manufacturer in the Middle East, in March 2014. Now we will introduce the technical standards of TPJ series mechanical spring fatigue testing machine one by one
aei cable products are mainly supplied to the Royal Navy Queen Elizabeth aircraft carrier project, Manchester airport and Elizabeth Hospital