| 19 July 2007 |
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Bangor company goes into administration |
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Thermomax, a Bangor based company that makes solar heating systems, has gone into administration.
The company, an employer of 185 people, had won numerous awards including a prestigious Queen’s Award for Enterprise in 2001. However, Thermomax have run into financial problems and administrators are in talks with potential buyers.
A spokesman for PricewaterhouseCoopers has said that there will be no immediate job losses and the firm is due to reopen on Monday following the July holidays.
Thermomax was founded in 1980 and have a second factory in Wales employing 85 people.
The Trade Minister at the time, Sir Reg Empey, noted that Thermomax had established a position as the market leader in renewable energy which was a strategically important sector expected to grow strongly.
(SB)
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