Forty jobs have been saved and more are to be created at the former H&H Electronics in Calne.
The company based on the Portemarsh Industrial Estate went into receivership in December and made 38 members of staff redundant just before Christmas.
On Monday it was announced that three former H&H managers and an outside investor had formed a new company Alpine Sheet Metal Limited and saved the plant.
H&H no longer exists but the new company will be keeping all 40 staff members and recruiting new positions at the end of this week.
Managers Phil Edwards, Tony Atkins, Jason Mayersbeth and John Jacket of Altex Engineering, acquired assets from administrative receivers Kroll to enable them to form the new company.
Alpine Sheet Metal Ltd will continue to work as a sub contract sheet metal fabrication company.
Mr Edwards, who was with the former company for 25 years, said people who previously worked for H&H are free to apply for the job vacancies.
"We will be taking people back on and we have done already," he said.
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