An industrial equipment supplier in Aberdeen has been placed into administration by the High Court.
Ian Defty and Charles Turner, partners at insolvency and restructuring firm CVR Global, have been appointed administrators of Screw Conveyor Ltd following a hearing in London today (Friday, September 29).
Screw Conveyor Ltd, based on the Denmore Industrial Estate, is a supplier of explosion-proof equipment and associated fabrication services to operators and drilling and engineering contractors working onshore and offshore.
The company, which supplies products in 80 countries across seven continents, began trading in 1996 and has 10 employees.
Administrators have confirmed that there have been no job losses, and they are now exploring options to sell the business while it is still trading.
Charles Turner said: “We are actively looking into the sale of the business on a going concern basis, enabling the business to continue trading and preserving the employment of staff members. We hope to conclude a sale in a short space of time.”