MORE than 100 jobs are at risk after Mabey Bridge has announced that a buyer has not been found for its renewables components factory in Chepstow.

In December 2014, the Mabey Group announced that it was planning to close the factory which manufacturers components for large scale engineering projects such as wind turbines.

In the announcement, the company said that it was looking for a buyer for the site, with the hope of safeguarding jobs.

However, a buyer has not come forward and Mabey Bridge has revealed that the operation will close in September this year.

September marks the end of the financial year for the company and will allow it to honour existing obligations to customers and suppliers.

Mabey Bridge reports that more that 50 buyers were approached in a bid to save the factory but all attempts have been unsuccessful. 

A company spokes-person said: "Following contact with over 50 companies from the UK and abroad, receiving expressions of interest from a number of them, we have been in exclusive discussions with one organisation for the last three months.

"However, it became apparent at the end of last week that the deal was not going to reach a successful conclusion.

"We believe that we have exhausted all available options.

"As a result, earlier today (Tuesday 7th July) our employees were told that a full consultation process will now be conducted with those affected by the proposed closure.

The consultation process will take 45 days and the company will be speaking to each employee individually, around 125 in all, looking at options on a case by case basis to see if they can be reallocated into different Mabey Bridge divisions, or giving advice and support in looking for other employment.

Chair of Mabey Group, Juliette Stacey, said: "This is not a decision that we have taken lightly and we understand that this is a very difficult time for our people.

"The uncertainty of market conditions for the UK onshore wind industry in the longer term has been a contributing factor.

"The priorities for us now are to support our affected employees in whatever way we can, and to ensure that the longer-term future of Mabey Bridge as a whole is secure. 

"We will provide our people with as much information and support as possible over the coming weeks."

Local Assembly Member Nick Ramsay has expressed his concern and sadness at the news, saying: "Mabey Bridge is a longstanding local firm with strong connections to Chepstow.

"It helped build the original Severn Bridge and only moved to its current site adjacent to the motorway a few years ago in order to expand its operations.

"Only last year I visited the renewables section of the business and was impressed by the quality of the product and the dedication of staff.

"The workforce is highly skilled and has enabled the company to diversify into next generation pylon technology.

"It's very disappointing that the management team have been unable to find a buyer.

"What's important now is that the Welsh Government works closely with the firm to try and cushion this blow and to support new job opportunities for the skilled workforce. Wales can't afford to lose this type of industry."