A Shropshire engineering firm which went into administration with the loss of 45 jobs is back in business after a management buy-out.

About 35 of the staff made redundant at Rednal Pneumatics in Oswestry have been given back their jobs following the takeover by managing director Ian Ibbotson.

The company, which is a manufacturing supplier operating within the metal pressing sector, went into administration this year.

Staff were locked out of the offices on the Mile Oak Industrial Estate and a notice of forfeiture was stuck on doors at the company’s premises by the landlord when it closed in March.

But Mr Ibbotson today confirmed the company was back in business and investing hundreds of thousands of pounds in new equipment.

The company has fought back against the recession by not only remaining a world-leading manufacturer of pressure vessels, such as compressed gas containers, but is also looking at growth in new sectors and products for 2010.

Mr Ibbotson said: “Starting out as production manager, I had worked for Rednal Pneumatics for 30 years. The company’s financial difficulties had come as a shock to all employees, including myself.

“After working alongside administrators for two weeks I began looking into ways that I could salvage the good reputation the company has achieved over the years, and took the decision to buy the company.”