THE future is bright for a Horwich steelworks which has been taken over by one of its customers - the company that built the Eiffel Tower.

The former Horwich Steelworks, based in Horwich Business Park, Chorley New Road, was put into administration on March 9 - with a threat to 45 jobs - due to rising costs and a fall in orders.

Nigel Fox and Christopher Ratten, administrators from Tenon Recovery in Parsonage Gardens, Manchester, were appointed.

A deal was struck in which Eiffel UK, a long-time customer, acquired the company, now called Eiffel Steelworks Limited, for a six-figure sum.

Mr Fox said: "Eiffel was one of the main customers of Horwich Steelworks, and we are delighted to have done the deal.

"We knew we had to act quickly as soon as we were appointed, and this deal means that all the jobs in Bolton have been saved. It is not very often that manufacturing administrations have a completely happy ending, but this is certainly one of those times."

His sentiments were echoed by Glenn Mawdesley, the director of Eiffel UK, who is already formulating ambitious plans for the skilled workforce he has inherited, involving an investment of £3 million this year and a possible new factory in Bolton.

Eiffel UK is a wholly owned subsidiary of 120-year-old French company Eiffel, which built the Eiffel Tower and specialises in steel bridgework.

The Horwich operation is currently working on a hi-tech roof for a new theatre in London, as well as a canopy for the £920 million Paradise Street mixed development in Liverpool.

Mr Mawdsley said: "We wanted to acquire a steelwork company. When we heard about the predicament here, we decided to move quickly to secure the facilities, the assets and the staff, with a view to turning it around. We want to take the business forward, so it is a small, efficient, steel fabricator that fits well within our national portfolio.

"We are looking at establishing a new factory in Bolton to work alongside our Wigan operation. We have already committed nearly £1 million for new equipment from the US, and we have funds available for a relocation in Bolton if that is how things end up.

"Whatever happens, this place will not close.

"We will be taking on new staff in the area, and when we are up and running, we want to start a proper apprentice scheme."