SPECIALIST pump, valve, seal repair and maintenance company MF Sealings has been sold to a US world-leader in fluid handling in a multi-million pound deal.
Set up in 1995 by managing director Ian Watson and employing three people, MF Sealings has grown significantly and now employs a team of 33 at its factory on Middlesbrough's Riverside Park Industrial Estate.
Its takeover by the Texan company, whose identity is not being disclosed, but is said to be one of the world's largest manufacturers and suppliers of pumps and valves to the power, oil, gas, chemical and process industries, further strengthens the company's market share in the North-East and UK.
The Riverside Park site will also become a strategic location in the new operation as a chemical pump and general industrial repair centre for the North- East, and it is hoped jobs will be created in the coming months.
Mr Watson was advised during the sale by Tait Walker's Tees Valley office.
"Since the takeover, two new members of staff have joined the team and two apprentices have been employed, allowing an established apprenticeship programme to continue," he said.
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