This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/wales/7172193.stm

The article has changed 2 times. There is an RSS feed of changes available.

Version 0 Version 1
Plastics firm in administration Plastics firm in administration
(40 minutes later)
A south Wales valleys plastics factory, which employs 140 people, has gone into administration, it has been confirmed.A south Wales valleys plastics factory, which employs 140 people, has gone into administration, it has been confirmed.
Aberdare-based Everwhite Plastics makes UPVC building products and its workforce includes skilled technicians and craftsmen. But it is hoped Aberdare-based Everwhite Plastics will be sold as a going concern by the end of January, administrators have said.
The firm, which makes UPVC building products, got into difficulties after sales in the United States were hit.
Administrators Menzies Corporate Restructuring, said they would be speaking to staff on Monday.
The business, based on the Aberaman Park industrial estate, was established in 1994 and has expanded over the last 10 years.The business, based on the Aberaman Park industrial estate, was established in 1994 and has expanded over the last 10 years.
It makes guttering, UPVC windows, fascias and cladding for roofs. It makes guttering, UPVC windows, fascias and cladding for roofs and its workforce includes skilled technicians and craftsmen.
The business was founded by former roofer Ken Davies, who broke both legs in an accident and decided to set up buying and selling materials before expanding to making plastic fascia boards Phil Duffy, from Menzies Corporate Restructuring, described Everwhite as a "strong business" with a good customer base and an exporter to the United States and Ireland.
"Its recent problems have been caused by capital expenditure for the US product," he said.
"Sales did not quite follow the amount of capital expenditure and it caused a cash flow problem which the company could not fill.
"Confident"
"The directors have tried to fill this cash flow hole but were unsuccessful and hence the company went into administration."
He added there had been a lot of interest already from people looking to buy the business and he was "confident" it could be sold as a going concern.
"We have got people flying in from the US on Monday to look at the business," said Mr Duffy.
"A company in Ireland is interested and there are several large UK busineses in the same industry who are interested.
"We are having an all-employee meeting on Monday so I will be giving the strategy to them. It is fair I speak to them before anyone else."
The firm was founded by former roofer Ken Davies, who broke both legs in an accident and decided to set up buying and selling materials before expanding to making plastic fascia boards
By the end on 1999 it was Aberdare's second largest employer and named as one of the UK's fastest growing businesses by the Sunday Times.By the end on 1999 it was Aberdare's second largest employer and named as one of the UK's fastest growing businesses by the Sunday Times.
Manchester-based Menzies Corporate Restructuring have been appointed as administrators.