Job losses at engineering firms

Eighty-eight staff at PRM Newage Ltd have lost their jobs

Close to 200 jobs have been lost at engineering group CommaTech Holdings Ltd, parts of which have gone into administration.

CommaTech Gears Ltd, in Atherstone, which supplies aerospace parts, has made 90 staff redundant out of 133.

Another 88 people have lost their jobs at PRM Newage Ltd, in Alderman Green, Coventry, which makes power transmission tools.

Administrators KPMG said it was looking for a buyer for the companies.

Other parts of the group currently in administration are CommaTech (Braye) Ltd, TP Atherstone Ltd, CommaTech (Hertford) Ltd and CommaTech (Leicester) Ltd.

Economic downturn

A total of 450 people are employed across the whole group, which is a component supplier to the aerospace, motorsport, off-highway and construction markets.

Myles Halley, joint administrator at KPMG, said: "Unfortunately we have had to make a number of people redundant on day one.

"However, moving forward we are seeking to find a buyer and ask that any interested parties contact us in the first instance."

Despite investing £4.2m, CommaTech said the company ran into cash flow problems when orders dried out from April.

It said attempts to refinance the group had so far been frustrated by the economic downturn.