A TREDEGAR-based company that has been providing jobs in the town for over 40 years has gone into administration.
The decision was made to put BKF Plastics Limited into administration on August 2, with 19 of the 39 staff already made redundant.
Through providing plastic moulds for the furniture industry, stadium seating and items that are continually exposed to the outdoors, the company has generated a turnover of £2.5 million.
While it traded profitably since being set up in 1969, it ran into trouble in 2010 because of an increase in raw material prices and experienced cash flow problems at the start of 2011.
Administrator Grant Thornton UK is hopeful of selling the business, but because of a limited order book, has laid off 19 staff.
The company has assets that include 17 plastic injection moulding machines ranging from 60 to 1,000 tonnes in weight.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article