A RUSSIAN billionaire’s company has bought an Elland based steel wire producer
Wire-makers Carrington Wire, which employs 100 people at the town’s Lowfields Business Park, has been sold to Severstal-metiz.
The buyer is Russia’s largest maker and exporter of wire and is owned by 40-year-old Alexei Mordashov, who has a personal fortune of $7.6bn.
Carrington Wire has other sites in Cardiff and Liverpool. Its total workforce is 325.
The business was sold for an undisclosed sum by investment group Acertic Holdings.
Carrington accounts for 30% of the UK’s wire and wire products market, with customers in more than 50 countries.
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