Tracey will take over part of the Stanton factory in Derbyshire as part of a push into England.

Stanton will continue to manufacture precast products for its remaining divisions at the site as part of the deal.

Customers were told: “Tracey Concrete will be committed to the Stanton site for the long term and are well positioned for continuous investment.

“Stanton will continue to operate from the site, with a mission to evolve its UK rail business and find further infrastructure projects to come after Green Tunnels and HS2.”

Stanton owner Sateba said: “Sateba is retaining its UK infrastructure and rail business and remains committed to its UK team for future development. The company will remain on the same site which has been split between the two companies.”