Mon, 20 Apr 2015 | ADMINISTRATION
A specialist manufacturing business has been put into administration by a team from KPMG.
Cermatco Ltd, a Kent-based firm which focuses on the development and manufacture of ceramic materials for use in dentistry, entered administration this month due to cashflow problems.
Joint administrators William Wright and Mark Orton from KPMG have been appointed to handle matters. They have confirmed that Cermatco Ltd will be traded as a going concern while a buyer is sought for the distressed business.
Mr Wright, who is also a partner with KPMG, commented: “Cermatco is an advanced manufacturer working at the forefront of the ceramics industry. Given its proximity to Europe, skilled workforce and quality product offering, we are confident that there will be interest from the market and a buyer can be found to take the business forward.”
The company is historically profitable but cashflow issues forced the directors to place the company into administration.
Cermatco has been in operation for over 20 years. All of its products are manufactured in its purpose-built factory in Kent in a location easily accessible to the Eurotunnel and the Channel ports, aiding the business to reach out to the European market.
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