Mabey Bridge stated on Wednesday that it had failed to find a viable buyer despite ‘exhaustive efforts’.
The company added that no viable solution had been found despite an ‘extensive search and marketing process’.
Mabey Bridge had previously announced that it was looking to sell its renewable energy division at the end of last year.
In the statement chairman Juliette Stacey, said: "We have explored every avenue available to us in a bid to keep the site open, but sadly it has not been possible to do so."
“I would like to thank all of our staff at Newhouse who have worked diligently to meet the commitments to the customers of the Renewables division prior to its closure.”
“Mabey Bridge will continue its activities from its facility and offices in Lydney, as a business that provides high quality modular bridging and infrastructure solutions in the UK and overseas.
“This is a difficult day for Mabey Bridge but we will now focus on building a stronger and more sustainable future for the business.”
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