Kancoat Limited (07978210): administration
- Status
- Administration ended
- Administration began
- 2014-09-12
- Administrators
- Gary Stones
- Administrators' firm
- Ua Insolvency Risk Services
- Incorporated
- 2012-03-06
- Location
- Swansea
- Industry
- 25610 Treatment and coating of metals
Why it went into administration
- Property / lease costs
From the administrators' statement
The company was formed to exploit a set of opportunities, which included the closure plans by Tata Steel of their Tafarnaubach works and EU anti-dumping tariffs on coated strip imports from China, to coat metal strip in coil form for subsequent use in making food cans, component substrates (canstock), metal boxes and other metal containers Other compatible products were to include coating of strip steel for electrical applances (white goods), non-stick bakeware, aerosol components, internal architectural coated steel and anti-bacterial cladding The coating line is unparalleled in Europe, having the ability to process all metals at speeds up to 200 metres a minute being one of the best canstock lacquering lines in the world It was already installed in a 105971 square foot facility and was ready to run in its bespoke building (originally built by Alcoa Manufacturing (GB) Limited) and was to be leased to Kancoat Limited by the Welsh Government The line came with a readymade workforce and a pool of labour in the area following closure by Alcoa
Markets were identified for 100000 tonnes per annum but the company envisaged only needing 12/15000 tonnes per annum to break even The company has a capacity of 150000 tonnes per annum
Trading commenced on 15th August 2013 with an envisaged £3 177 million capital expenditure programme creating 31 jobs and safeguarding 1 job
Administrators' statement of proposals (2014-10-17) · Companies House register