Printer Friendly

Jobs threat at car parts firm; BUSINESS: Black Country company in administration.

Byline: By Steve Johnson

JOBS could be at risk in the Black Country after a car components firm collapsed into administration.

Staff at Vickers Pressings Tolwood Automotive, which has plants in Walsall and Wolverhampton, are awaiting news on their futures after administrators were brought in yesterday.

VPTA, which has its headquarters in County Durham, employs a total of 300 staff across the country, including the two Black Country sites.

A spokesman for joint administrators KPMG Corporate Recovery in Leeds said today that the company had a fourth site in Newcastle-upon-Tyne.

He added: "VPTA manufactures a variety of products used in the car assembly industry.

"The company was created earlier this year by a merger between Tolwood and Vickers Pressings.

"We cannot really comment on the jobs situation at the moment because we were only brought in yesterday."

Richard Fleming, a partner with KPMG, said: "The business is continuing to trade as normal and we hope to sell it as a going concern."

Mr Fleming and Graham Newton from KPMG were appointed joint administrators of VPTA by the company's directors.

Further news on the future of the company is expected to be announced next week
COPYRIGHT 2005 Birmingham Post & Mail Ltd
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Birmingham Mail (England)
Date:Oct 22, 2005
Words:194
Previous Article:Traders hit by shops protest; Forced to shut down by demo over alleged rape.
Next Article:Salt death boy agency's sorrow.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters