A Swindon aerospace company has been taken over by a smaller rival for £1.9 million.
Kembrey Wiring, which manufactures and supplies wiring harnesses for the aerospace industry, made pre-tax profits of £352,000 last year. It employs 100 people at its factory in Garrard Way, Greenbridge
It was bought from its parent group Chemring by Time 24.
David Evans, Chemring chief executive, said: "The disposal of Kembrey completes the board's strategy of divesting of non-core businesses.
"Time 24, which is already well-established in the wiring harness industry, is a good home for Kembrey."
Richard Martin, managing director of Kembrey, said: "The change in ownership is good news for Kembrey as it is key to the future strategy of Time 24. The enhanced company is the largest independent wiring manufacturer in the UK, with annual sales of around £26 million, servicing markets in aerospace, defence, machine, medical, railway and telecommunications."
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article