Artenius collapses after Spanish parent pulls plug
Affairs of Teesside-based subsidiary of Spanish giant La Seda De Barcelona, now being handled by administrators from Deloitte
The Artenius chemical plant in Teesside has been placed into administration
by its Spanish owners, making 137 of 242 staff redundant.
La Seda de Barcelona is closing the plant in Wilton, near Redcar, as part of
a five-year restructuring plan which includes selling on five other sites in
Europe to focus on chemical production abroad,
nebusiness.co.uk
reported.
Administrator Dan Butters
told
the BBC: ‘The company is continuing to trade while we seek to identify going
concern bidders.
‘Regretfully we have been forced to announce 137 redundancies today, mostly
in respect of the already closed division.
‘We are extremely grateful to the staff and management for their co-operation
during this difficult time.’
‘We are working with the Job Centre and Insolvency Service to support
employees wherever possible and are grateful for their assistance.’