Twenty jobs have been saved at a west Oxfordshire engineering firm after it was taken over by a new partnership.

JD Krouse Engineering, in Carterton, had been put into liquidation by its owner, John Krouse, but was snapped up immediately by Albert Soave, of Acrona Engineering, based in Church Hanborough, along with Eraldo Guarino, of Planet Machine Tools, in High Wycombe.

A new company, Krouse Precision Cryogenics, has been formed and has started to recruit staff and invest in new machinery.

Mr Krouse, 67, who is staying on at the firm in an advisory role, said: "We're now going forward and the aim is to build the company up to become a profitable enterprise again.

"We're also investing in training. There's already one apprentice and the plan is to have two a year."

JD Krouse, which manufactures precision parts for the nuclear, satellite and aerospace industries, has been trading for 37 years. Customers include British Aerospace and Begbroke-based music recording desk manufacturer Solid State Logic.

It started in a barn in Enstone, moving to Witney, before settling in its current base on the Carterton South Industrial Estate.

During the 1990s, when the business was at its peak, it employed about 40 people, but in the past three years has hit financial problems and trading took a downturn.

Mr Krouse added: "It got to the point where I had to do something. I asked around and these people came along and saved the assets of the company.

"I feel the relationship I have already built up with the new directors and my knowledge of the engineering, coupled with the business skills of Albert Soave, who I have known for 30 years, will add great drive to the new company."

Mr Soave added: "There's a very good interaction with Acrona Engineering. It's a challenge but I'm sure I can rise to it."