Clutch firm put in administration

A car components firm has gone into administration, casting doubt over the future of 237 jobs.

AP Driveline, based in Leamington Spa, Warwickshire, manufactures clutches for the motor industry which has been badly hit by the economic downturn.

PricewaterhouseCoopers (PwC) were appointed administrators on Monday.

Joint administrator David Bennett said the company had faced a "substantial fall" in work volumes over a short period of time.

Still trading

He added: "Our immediate priority now is to review all options for the company and immediately seek a buyer for the business.

"Whilst a buyer for the business is sought, we expect to continue trading."

The company had an annual turnover of about £18m and was owned by Reading-based Magal Engineering, which also makes jacks, brakes and tyre carriers.

All other parts of the Magal group are trading normally.

RELATED INTERNET LINKS
PricewaterhouseCoopers
The BBC is not responsible for the content of external internet sites