A PORT Talbot mechanical assembly firm has collapsed, owing its clients thousands of pounds.
Excel Assemblies is now in the hands of Bristol-based administrators BDO Stoy Hayward after folding earlier this month.
The firm, which was run from a site on the Baglan Industrial Park, produced cables, wiring harnesses and cable management systems for clients including Airbus and defence contractor BAE systems.
Excel had hoped for a boost in business in April this year when it secured a £350,000 loan package backed by the Assembly which had the potential to double its turnover to £10 million and increase staff from 60 to 100.
But it went into administration on Tuesday, November 3, owing thousands of pounds in unpaid bills to clients including American engineering firm Abbatron.
The company had been shipping custom designed waterproof electronic connectors used in military applications to Excel until earlier this year.
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1 comment:
Probably another company on the way to Eastern Europe to leech the cheap labour and economy.
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