THE former site used by collapsed steel structure firm Rowecord has been sold by its owners.

Andrew Hoppe of Rowecord Holdings said a firm based in Leeds has bought the property previously used by Rowecord Engineering Ltd, known as the Neptune Works.

He said that the new owners have asked for their identity to remain confidential, and said it is not the same firm as the company that is thought to have bought the site’s kit.

However Mr Hoppe said he didn’t know and couldn’t comment on whether they were working on behalf of that company.

The Argus revealed during the summer that a company based in Saudi Arabia had bought up machinery owned by the collapsed Newport firm that had built the roof for the Olympic Aquatic Centre.

The kit had been put up for auction.

There had been speculation previously that the buyer could restart work at the site pending an agreement with Rowecord Engineering's parent company.

Rowecord Engineering went into administration in April owing £24 million and making 430 people redundant.

Although Rowecord Engineering Ltd went into administration, parent firm Rowecord Holdings did not and had owned the property that Rowecord Engineering operates from.

Administrators Grant Thornton had tried and failed to find a buyer for the company before selling Rowecord’s machinery. The firm's Stephen Hall has said that the buyer of the plant could open a business at Rowecord if they wished, but said that the administrators had not been in discussions with the buyer.

Last month Chepstow-based manufacturing firm Mabey Bridge announced it had launched a new business taking on staff from Rowecord.

Mabey Structures, based at Newhouse Industrial Estate, is to focus on manufacturing for stadiums, healthcare, and commercial sectors.

The company is led by Jason Churcher, previously sales and proposals director of Rowecord Engineering, supported by ex-Rowecord technical director Paul Benwell, as well as Rowecord engineers, estimators and technical staff.