Marwin and Asquith Butler to merge

Marbaix Group, a machine tool manufacturer, has bought Wolverhampton-based precision machinery company Marwin Production Systems out of receivership. Marwin was previously part of TransTec, the troubled West Midlands automotive supplier which went bust in December. Marwin is to be merged with Marbaix’s Asquith Butler business to form a new company called AB Marwin. It will employ 90 and have a £10m turnover.