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Clearer Picture After Closure of Plastmo
Further details regarding last month’s closure
of Plastmo Limited, the Northampton extruder of PVCu window, door and
conservatory profiles, have emerged.
The company, comprising Plastmo Profiles Limited and Abbott Group (with
divisions in Hailsham and Glasgow), had been in existence for over 40
years and was a major player in the UK PVCu building plastics sector.
Following the closure of Plastmo Limited on March 29th, Manchester-based
Sprint 1233 Limited acquired Plastmo Profiles and Sprint 1234 Limited
acquired the Abbott Group (including Watson Dallas) respectively.
Subsequently, the Plastmo business was acquired from Sprint 1233 Limited
by Eurocell Profiles Limited in a deal that will see the company emerge
as the UK’s largest manufacturer and distributor of extrusion to
the fenestration and roofing sectors.
The newly formed Sprint 1234 Limited has continued since March 29th to
fund the Abbott Group providing an opportunity for the local Management
Team to facilitate a buyout.
A deal has consequently been reached for an investor-backed management
team to acquire Watson Dallas, which secures the future of 55 jobs in
Glasgow.
As the future of the Hailsham division remained uncertain, Sprint 1234
was left with no alternative but to call in administrators with the result
that the entire workforce has now been made redundant. The administrators
are currently reviewing all options and are dealing with enquiries from
third parties in relation to the business or its assets.
A spokesperson for the newly formed companies Sprint 1233 Limited and
Sprint 1234 Limited, commented:
'The collapse of Plastmo was potentially damaging for a large part of
the window industry, but through our intervention, and on an extremely
positive note, we have managed to safeguard 150 jobs at Northampton and
many more at the Plastmo window fabricator customers. On top of this we
crucially bought time that enabled a successful management buy out of
the Watson Dallas operation, saving another 55 jobs.'
