Steel company in administration

Matrix manufactures steel assemblies for the rail and oil and gas industries

A manufacturing firm which employs 70 people in Brechin, Angus, has gone into administration.

Matrix Engineered Systems Ltd has been trading since 1939 and manufactures steel assemblies for the rail, printing and oil and gas industries.

Administrators PricewaterhouseCoopers said they were called in after the firm experienced money problems related to the buying of raw materials.

The administrators hope to be able to find a buyer for the company.

Bruce Cartwright, from PricewaterhouseCoopers, said: "The company [Matrix] has serviced its chosen markets for many years and since 2006 has successfully diversified into other markets including rail and oil and gas.

"The company has developed new markets for its products and has a strong long-term order book, particularly from the rail sector.

"With the support of key customers, we hope to trade the business for a period of time whilst a buyer is sought."