Based at Mildenhall, it produces major glazing structures for buildings such as the Grafton Centre in Cambridge, the frontage of the Royal Opera House and Bluewater shopping complex. Mr Sheldrake is buying the assets and a number of existing construction contracts of the firm valued around 5 million. I am glad to be back with my old management team. He agreed and we wrote to the receivers to tell them that we fully supported Norman's bid. We have restructured the business and so far 62 of the threatened 150 jobs have been saved.
Plans are already underway to bring in new orders and rebuild client confidence.
We are determined to put EAG back in the top league. The deal was put together at express speed by law firm Taylor Vinters - within four working days the deal was done. This sale secures the jobs of those involved and means that a large number of construction projects can now be completed. The solicitors are also strenuously defending Mr Sheldrake against a legal action by Haymills.