From the administrators' statement

31 The company was incorporated in December 2005 and during this month, the company purchased certain assets from Thamesteel Limited and issued a lease and licence to Thamesteel Limited for the use of these assets

32 Further capital expenditure was invested by the Group via Thamesteel Limited during 2006 which included the commissioning of a new rod and bar mull, together with a new ARC furnace in an attempt to increase capacity at the facility Again, these assets were leased back to Thamesteel Limited

33 The recession of 2009 had a mayor impact on the steel industry and on the business operated by Thamesteel Limited These difficulties continued into 2010 and 2011, during which time Thamestee! Limited attempted to identify an investor for the business

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Thamesteel Leasing Limited (05650074)

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