Plasticon UK, a maker of storage tanks and industrial piping based in Hull, has gone into administration after suffering financial difficulties.
Established in 1973, £9m turnover Plasticon is based at Sutton Fields Industrial Estate in Hull. The business, which is part of the global Plasticon Composites Group, specialises in custom corrosion-resistant storage vessels and processing equipment for a range of industries that handle or process chemicals and corrosive gases.
Begbies Traynor are administrating the firm after it losses became too substantial to continue trading.
Andrew Mackenzie, administrator, said: “The business is highly specialised and has a strong reputation for innovation in the composites field. We are confident that a buyer can be found for Plasticon UK and have already had several enquiries.”
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Plasticon pipe