CONTRACTS worth more than £500,000 from an Ebbw Vale business that has ceased trading are set to be reviewed by insolvency experts.

Last Thursday Monwel Signs & Services, which describes itself as Wales’ largest road traffic sign manufacturer, closed down its Ebbw Vale offices on Letchworth Road.

More than 30 employees, many of whom are disabled, were made redundant.

John Toner from the Unite trade union, which represented around 20 of the employees, said he felt “angry and bitterly let down” by the redundancies.

A spokesman said that insolvency experts will be reviewing the company’s financial position in due course and will include contracts.

Contracts secured include the Heads of the Valleys Road duelling project, worth £414,000, and one for £150,000 with Caerphilly County Borough Council, as well as extended contracts with Carmarthenshire and other local authorities to provide them with highways signage.

The company was originally run under the control of Blaenau Gwent County Borough Council, but following a transition to a social enterprise it turned a loss of around £250,000 to a projected profit of £136,000, and became the leader of its field in Wales.

The company had also received funding from the South East Wales Community Economic Development programme, run by a six valleys local authorities’ consortium of Merthyr Tydfil, Bridgend, Blaenau Gwent, Caerphilly, Rhondda Cynon Taf and Torfaen.

SEWCED has invested £8m in 126 social enterprises since it began in 2010, helping to create 22 social enterprises and 113 full-time jobs.