The Joint Administrators of Dolgarrog Aluminium Limited announce with regret that the proposed sale of the business and its assets has collapsed.
Over the course of the last few months, the administrators, in conjunction with the Welsh Assembly Government, have been working to conclude a deal to sell the business and assets of the Company, thereby securing a future for the operation.
Brian Green, Joint Administrator and partner at KPMG Restructuring in Manchester, explained, “Since the outset, we have worked to overcome a number of obstacles which were frustrating the completion of a potential deal. It is, however, with regret that we have to announce that the proposed buyer, a Russian operation, has confirmed that it is no longer interested in pursuing the transaction to its completion.”
“We will now concentrate our efforts with the assistance of the Welsh Assembly Government on the disposal of the assets of the Company via alternative routes; any interested parties should contact the administrators.”
-ENDS-
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Further information:
Katy Broomhead
Media Relations Manager
Tel: 0161 246 4623 / 07824 537963
Email: katy.broomhead@kpmg.co.uk
