MORE than 40 jobs have been lost with the closure of a Peterlee engineering firm.
Vehicle parts manufacturer Ferschl Tubeform, based at a 40,000 sq ft plant on the town’s South West Industrial Estate, went into administration earlier this month after six years of losses.
Ian Kings and Steven Ross, of Baker Tilly Restructuring and Recovery, were appointed Joint Administrators in a bid to save the firm, but have been unable to do so.
The company was part of the Ferschl group, which also includes Gateshead-based Ferschl Hose and Hydraulics and Northern Hose and Hydraulics Cleveland Flexible Engineering in Middlesbrough.
Ferschl Tubeform has been supported by the group for some time, but this situation was unable to continue.
“It was not possible for the administrators to sell the company as a going concern,” said a statement from Baker Tilly.
“As a result, the company has ceased to trade and regrettably 44 staff members have been made redundant.”
Ferschl Tubeform produced a range of engine exhaust systems in materials, including aluminium and stainless, pre-coated and carbon steels.
Formed in 1982, the firm supplied precision-engineered manipulated metal tube and pipe-based sub-assemblies, products and components to some of the world’s leading heavy earth moving and materials handling machinery manufacturers to be used in a variety of applications, including high pressure fluid transfer, exhaust gas handling and structural support.