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30/04/2013
430 Jobs Lost At Rowecord Engineering
Administrators appointed to Wales' largest steel contractor, Rowecord Engineering, has confirmed around 430 people are to lose their jobs.
However, it is understood around 80 people will be kept on at Newport-based Rowecord Engineering, the BBC has said.
The company said it had "exhausted every option" to try and keep the business operating.
Alistair Wardell, from administrators Grant Thornton, said the collapse was down to the firm losing money on contracts and the general economic climate, which led to future contracts drying up.
He also said that the collapse of Rowecord could have an impact on other firms along the M4 corridor which supplied the company.
The Welsh Government said it offered assistance to the firm, but Rowecord turned down the offer.
Until recently the company employed over 500 people at sites in Newport, Baglan, and the Tata Steelworks at Port Talbot.
Rowecord has been a steelwork contractor on major projects, including Parc y Scarlets rugby ground, Cardiff City Stadium and the Olympics aquatic centre.
(JP/CD)
However, it is understood around 80 people will be kept on at Newport-based Rowecord Engineering, the BBC has said.
The company said it had "exhausted every option" to try and keep the business operating.
Alistair Wardell, from administrators Grant Thornton, said the collapse was down to the firm losing money on contracts and the general economic climate, which led to future contracts drying up.
He also said that the collapse of Rowecord could have an impact on other firms along the M4 corridor which supplied the company.
The Welsh Government said it offered assistance to the firm, but Rowecord turned down the offer.
Until recently the company employed over 500 people at sites in Newport, Baglan, and the Tata Steelworks at Port Talbot.
Rowecord has been a steelwork contractor on major projects, including Parc y Scarlets rugby ground, Cardiff City Stadium and the Olympics aquatic centre.
(JP/CD)
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