By Liz White, ERJ staff
Birmingham, UK-Fifteen people have been made redundant at Precision Cut Rubber of Corsham, UK, part of the United Polymers Group.
The group, whose main plant is at Maerdy in South Wales, is in administration at present, and the â€œredundancies were necessary in order to ensure the ongoing viability of the business,â€ said a statement from Adrian Wolstenholme and Alastair Beveridge, the partners in Kroll's Corporate Advisory & Restructuring Group who are Joint Administrators of the group.
The moves will cut staffing to the necessary level to meet the current order book â€œwhilst attempts are made to sell the business as a going concern,â€ the administrators added.
The redundancies were, where possible, via voluntary agreements, said Wolstenholme adding that they also â€œprovide the business with a greater chance of long-term viability.â€
The Kroll partners have had interest from a number of potential purchasers, but said these â€œare still at an early stage.â€ Wolstenholme and Beveridge said they, â€œare eager to develop these in the coming weeks.â€