Please visit https://www.companyrescue.co.uk/ for confidential help and insolvency advice or email keiths@ksagroup.co.uk

Thursday, 26 January 2012

Thamesteel in administration


Thamesteel, the Kent-based steel producer, is in administration today and Mazars have been appointed as administrators.   The plant has a turnover of £100m and its plant is in Sheerness. The company can produce more than 800,000 tonnes of steel billet a year and produces other steel long products such as wire road and bar.  These products are mainly used in construction and there has been a slowdown in the demand in the UK and Europe.  No statement has been released yet by the company or its administrators.

The 400 workers are expected to be updated today on the future of the plant.

Thamesteel was bought by Saudi Arabian company Al-Tuwairqi Group in 2002.

If you are an employee of the business then please take a look at our pages on your rights as an employee of a business in administration.

No comments :

Post a Comment

Many thanks for your comments. If you have a private business problem and you want advice give us a call on 0800 9700 539 or email me at keiths@companyrescue.co.uk. If you are a professional advisor with a troubled client, please suggest they visit www.companyrescue.co.uk or contact me as above.

Web Analytics