Page last updated at 17:19 GMT, Thursday, 12 February 2009

Car parts firm in administration

Inside Florform
Floform is said to be one of north Powys' oldest employers

A car parts firm which employs 80 people has gone into administration.

Floform in Welshpool is one of north Powys' largest and oldest employers, and supplies parts to a number of motor manufacturers including Volvo.

The firm's directors blamed cuts to its order book, which they said had resulted in "significant cash-flow difficulties".

Administrators Zolfo Cooper said they were exploring "all options available for the business".

The administrators added that Floform Limited was an internationally-recognised leader in the automotive industry.

Peter Holder, a partner at Zolfo Cooper said: "At what we appreciate is an uncertain time for those affected, we are liaising closely with customers, employees and their union, and suppliers of the business while we consider prospects for its future."

More than 100 jobs were saved at Floform in 2007 following a management buy-out.

The company had been for sale for some time, and a year earlier had made 60 workers redundant after losing a major order from the United States.

Many of its products, which include diesel injector sleeves and other specialist fixings, are exported to Sweden for use in Volvo trucks.



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