Thu, 16 Nov 2017 | DIVISION SALE
An engineering business based in Derbyshire is hoping to sell off a range of railway and train-related assets, after it ceased trading earlier this year.
Established in 1977, Rowlescourt Engineering specialised in machined and fabricated goods for the rail industry, producing items such as point fittings, trackside furniture, signalling equipment and components for trains and carriages. The company counted Network Rail, Siemens and Tarmac ABB among its many clients.
The firm ceased trading in its 40th year of running, however, after strong competition in the sector put it under increasing pressure. Administrators from local insolvency specialists Wilson Field were appointed to the company on 23 October to oversee its affairs.
The Somercotes-based company employed 35 workers, all of whom were made redundant in October, and recorded a turnover of £1.21 million in 2016.
Rowlescourt will now look to sell its freehold industrial and office premises, which are located on a 1.66-acre site at Clover Nook Road on the Cotes Park Industrial Estate, as well as a wide range of assets and plant. These include a selection of automating computer equipment, machine tools, office furniture, design equipment and stock material.
Kelly Burton, director and insolvency partner at Wilson Field who was appointed as joint administrator along with Lisa Hogg, said Rowlescourt folded despite its previous successes and reputation in the railway industry.
She added: “Whilst it is always disappointing when jobs are lost, it also opens the door for new investors.
"This a rare opportunity to obtain a wide range of unencumbered assets which could have a number of applications. We are looking to conclude a sale as quickly as possible."
Manufactures thermoplastic, fluoropolymer lined steel and GRP composite equipment for clients throughout the UK and internationally. Utilises a number of unique manufacturing techniques to ensure its clients receive a cost-effective, reliable solutio...
LEASEHOLD
Designs prototypes and oversees the manufacture of an extensive range of precision engineered parts for use across heavy industry - with a particular focus on the rail sector. The company's lengthy history sees it with access and expertise in produci...
Machining & engineering firm boasting decades of experience in producing components primarily for the semiconductor industry but with clients worldwide in aviation & other high-tech industries. Operating from a state-of-the-art workshop the company c...
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