Friday, January 27, 2006
Circatex charges crippling company.
I have already indicated in this blog that the future of the British economy faces strong challenges this year, and that planned rises in costs of gas and electricity may force a considerable slowdown, which would have knock on effects on output and Retail Price Inflation.
Circatex, the printed circuit board manufacurer based in Eldon Street, South Shields, has become one of the first to suffer, having been forced to go into administration, despite having a full order book and operating at almost full capacity. David Miliband, Cabinet Minister, and MP for the town is today meeting with the management and administrators at the company in an effort to save the 210 jobs which are at risk there. Chairman Steve Jones said their electricity costs had risen by GBP 50,000 a month, a 60% rise, that's enough to cripple anyone!
I too hope and pray that the management, the union (Amicus), the administrators, and the workforce can formulate an agreed business plan that will enable the company to find an ambitious and solvent buyer who will make great use of this highly skilled workforce.
Link
Newcastle Evening Chronicle
_________________________________________________________________
I have already indicated in this blog that the future of the British economy faces strong challenges this year, and that planned rises in costs of gas and electricity may force a considerable slowdown, which would have knock on effects on output and Retail Price Inflation.
Circatex, the printed circuit board manufacurer based in Eldon Street, South Shields, has become one of the first to suffer, having been forced to go into administration, despite having a full order book and operating at almost full capacity. David Miliband, Cabinet Minister, and MP for the town is today meeting with the management and administrators at the company in an effort to save the 210 jobs which are at risk there. Chairman Steve Jones said their electricity costs had risen by GBP 50,000 a month, a 60% rise, that's enough to cripple anyone!
I too hope and pray that the management, the union (Amicus), the administrators, and the workforce can formulate an agreed business plan that will enable the company to find an ambitious and solvent buyer who will make great use of this highly skilled workforce.
Link
Newcastle Evening Chronicle
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