Tue, 28 Jun 2011 | ADMINISTRATION
Wiring supplier Simclar Group was put into the hands of administrators at Deloittes last night, leaving 217 employees at risk of losing their jobs.
The Dunfermline business is still being operated, while the administrators, John Reid and Bill Lawson, hunt for a buyer.
The UK business failed due to its investment in a series of new products, which could not be brought on to the market at the scheduled time as several regulations had to be met first. The funding dried up as a consequence.
Simclar supplies wiring, looms and sheet metal products to a blue-chip customer base including Bombardier and Alexander Dennis. Established in 2001, it is the parent company of a subcontract manufacturing business with operations in the UK, USA, Mexico and China.
Mr Reid said, “Simclar is recognised as a quality electronics manufacturing group with a global presence, a highly-skilled workforce and a blue-chip customer base.”
“Our aim is to sell the business as a going concern and offer a purchaser the opportunity to exploit these unique characteristics.”
It is intended that the US business, which works with backplane assembly and printed circuit board assembly, will continue trading. The Chinese operations are to be restructured within its current banking facilities and continue trading.
The last entry in the accounts for Simclar Group show revenues of £67.2 million was recorded for the year ending 31 December 2009, with losses of £3.7 million.
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