E & R Polymers closes - equipment to be sold

Stanley, Co. Durham, UK - A small foamed rubber moulding company based in Stanley, Co. Durham: E & R Polymers Ltd has gone into liquidation. Ian Green and Derek Howell of PricewaterhouseCoopers LLP were appointed joint administrators of E & R Polymers Ltd on 22 May 2007.

E & R Polymers Ltd manufactured cellular rubber products for a number of sectors but principally for the automotive industry. It employed 37 staff in the UK and a French subsidiary . Volcrepe Europe employed a further 2 staff.

Green, joint administrator, said, “The company has struggled due to a significant reduction in sales levels and has been loss making for some time specifically due to a sharp decline in orders from the UK automotive industry. 30 staff have been made redundant and the remainder have been retained to wind down the business over the course of the next few weeks. Clearly this is extremely disappointing news for all stakeholders and the employees in particular”

In a statement, the Administrators said, "the company had effectively ceased trading by 22 May 2007. On appointment, with no prospect of a sale of the business as a going concern, the majority of the employees were made redundant.

The statement added, "Anyone interested in purchasing the equipment and business of E&R Polymers Limited should contact Dean Ardron at PricewaterhouseCoopers LLP on +44 (0)1207 290 666."

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Website of E & R Polymers

Email the Administrators dean.ardron@uk.pwc.com at PwC