Wednesday, 26 March 2008

Salford firm sold for £4m

Another Irlam firm, Auto Electrical Services, has been taken over. Although good news for the owners, such takeovers reveal an implicit weakness in any local economic development plan which aims to encourage the development SMEs. Ultimately, if they are successful, they will be snaffled up by other companies which are often located elsewhere. This creates a structural weakness within the local economy which becomes increasingly vulnerable to the vagaries of 'remote decision making'.

I can't find much information on AES, other than they provide specialist support for operators of emergency vehicles. Such specialism is a typical attribute of post-Fordist economic development. So maybe it all comes together on the Northbank Industrial Estate, if you are trying to understand or analyse how the contemporary economy works.

The new owners, AssetCo, seem to be a recently formed company, which is part of a wider management structure - Asfare Group plc - located in Ruislip. They employ 850 people in twelve locations. They specialise in vehicle support for the fire and rescue services. Asfare are located in Southampton.

Such developments again reveal complex geographies of ownership and management, which make it difficult to analyse the impact of change in the local economy.

Source: Salford firm sold for £4m - Crain's Manchester Business

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