Expamet Building Products go into administration
Expamet Building Products Limited have gone into administration.
The firms assets have now been sold to Birtley Building Products, which has secured the continued employment of the workforce.
Expamet operates in the North East of England as a manufacturer of builders metalwork and plasterers accessories. For the year ending 31 December 2011, the firm had a turnover of around £23.5 million, and from the date the administrators were appointed employed 87 staff.
Robert Hebenton and Ian Green of PwC were appointed joint administrators on 23 May 2012.
Robert Hebenton said: “Like many businesses in the construction sector supply chain the business has experienced difficult trading conditions throughout the last two years, with margins coming under significant pressure.
“As a consequence the directors have reached the difficult decision to seek to have the Company placed into administration as sufficient funding could not be secured to continue to trade solvently.
All parties involved have worked extremely hard to ensure a viable solution for the business in securing the deal with Birtley Building Products, and preserving a vital source of local employment.“
This was posted in Bdaily's Members' News section by Ruth Mitchell .
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