Alternator firm Markon Sawafuji in Oakham are to close its factory after 10 years, resulting in the loss of 31 jobs. The company is a joint venture between Cummins Generator Technologies in Stamford and Sawafuji in Japan. Production will now be moved to Mexico and Japan and the factory has been put on the market.

Alternator firm Markon Sawafuji in Oakham are to close its factory after 10 years, resulting in the loss of 31 jobs. The company is a joint venture between Cummins Generator Technologies in Stamford and Sawafuji in Japan. Production will now be moved to Mexico and Japan and the factory has been put on the market.

Aero Stanrew, the Devon-based supplier of electromagnetic components to the aerospace sector, has been bought by its management for £8.5m. Private equity for the acquisition came from WestBridge Fund Managers, with HSBC providing structured debt. The business employs 170 staff in Barnstaple and its base in Tunisia. The management team is led by Clive Scott and also includes Chris Evans, Owen Rolfe and Peter Vaughan. Phil Crawford-Smith of Westbridges Co-Investment Club is Independant Chairman.

Devon-based aerospace component manufacturer Aero Stanrew Ltd has undergone an £8.5m management buyout. WestBridge Fund Managers has invested £4.2m in the MBO. The investment will allow Aero Stanrew to extend its product range and enter new markets.