Mill roll making plants are in administration

Sheffield Forgemasters Rolls' Crewe and Coatbridge, UK, operations are now under administration and their ongoing viability is being assessed. Sale is being discussed.

Roger Marsh, Steve Ellis and Toby Underwood of PricewaterhouseCoopers, have been appointed joint administrators of Sheffield Forgemasters Rolls.

Sheffield Forgemasters Rolls, which was formed in 1998, is a supplier of cast and forged rolls, employing 312 people at its sites in Crewe and Coatbridge.

It is a subsidiary of Atchison Castings UK Ltd (also in administration) whose ultimate parent company is Atchison Castings Corporation, based in Kansas, USA.

A further subsidiary, Sheffield Forgemasters Engineering is not affected by the administration and, having secured ongoing funding, will continue to trade as normal under the day to day control of its directors and management team.

The joint administrators will be quickly reviewing operations at both Crewe and Coatbridge to assess their ongoing viability and have secured funding to continue trading the business.

They will be looking to achieve a going concern sale of the business and are in discussions with a number of interested parties.

Joint administrator Roger Marsh, of PricewaterhouseCoopers, said: "We are very pleased to have secured the funding necessary to continue trading the business while we actively seek a buyer.

The fact that a number of interested parties have already come forward is a positive step in our efforts to secure a future.

Together with the support of customers, suppliers, employees and other stakeholders, over the next few days the team will focus on stabilising the business, so seeking to preserve it." .

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