Business vow by Mid Wales sale rumour firm
Bosses of a company in Mid Wales which employs 650 people today said it will be "business as usual" despite rumours it was about to be put up for sale.
Control Techniques in Newtown said its parent company Emerson will look at "repositioning initiatives" over the coming 14 months. But it said the business has "tremendous" potential and will continue to thrive. The company makes speed drives used in car engines.
Spokesman Mark Polzin said: "Right now, it is business as usual. Emerson last week announced repositioning initiatives that include exploring a range of strategic alternatives for its motors and drives and power generation businesses, which includes Control Techniques.
"This process will take time – perhaps through September 2016 – and no decisions have been made.
"These businesses have tremendous potential and will continue to thrive regardless of the ultimate outcome of this process. We will continue to meet our customers' needs and keep our employees informed along the way."
Rumours in the town had suggested Emerson was looking at selling the business.
