Rescue deal saves 60 jobs at Hampshire engineering company
More than 60 jobs have been saved following a rescue deal at engineering group Dytecna, a recent news report in the local business media has been able to reveal.
Dytecna specialises in technology, manufacturing and support services with a focus on the defence sector, with sites in Fareham, Malvern and Welshpool. However, the company entered administration due to "unsustainable" pressure stemming from a loss in trade. The rescue deal was completed by Exsel Dytecna Engineering Ltd, a company owned by Totton-based Dynasystems.
A statement from Dynasystems added: "This will create a more efficient and stronger business all round, by taking in the legacy of Dytecna into Exsel Dytecna Engineering. It will also create much needed jobs for the people, local economies and UK defence manufacturing.
"As well as UK centric business, we hope to be able to bring more international work to the company through the other businesses in our privately owned group, giving access to NATO and other defence and security related parties.
"This new stronger organisation will build on the combined capabilities of these businesses and provide access to a wider marketplace to enable the planned growth of this combined entity."
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