# AIC Steel Limited (08870009)

> Why UK company 08870009 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/08870009

- **Status:** Administration ended
- **Administration began:** 2016-10-04
- **Administrators:** Katrina Jane Orum, Huw Powell
- **Administrators' firm:** Begbies Traynor
- **Incorporated:** 2014-01-30
- **Location:** Cardiff
- **Industry:** 25110 Manufacture of metal structures and parts of structures

## Why it went into administration

- Sustained trading losses

## From the administrators' statement

The Company was incorporated on 30 January 2014 with the pnncipal activity of the Company being structural design, detailing, fabncation and erection of steel structures having acquired the business and assets of Rowecord Engineenng Limited (In Administration) in March 2014

The Company's ultimate parent undertaking in which its results are consolidated is AIC Steel Group Limited (‘the Group”), a company incorporated in Saudi Arabia The Company's intermediate parent undertaking Is AIC Steel Fabncation Limited

The Group saw the Company as a route to break into the UK steel market and provided working capital facilities to support trading losses that were anticipated to be incurred Although a number of high profile projects were won and delivered, losses in the first 12 months of trading exceeded expectations, particularly on projects where the Company was acting as main contractor

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/08870009/filing-history/MzE2MzgzMTM5N2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/08870009

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.