Caparo Industries plc
Caparo Industries plc, Caparo Engineering Limited, Bridge Aluminium Limited, Material Measurements Limited, GW 957 Limited, Caparo Steel Products Limited, Caparo Precision Strip Limited, Caparo Precision Tubes Limited, Caparo Vehicle Products Limited, Caparo Vehicle Technologies Limited, Caparo Modular Systems Limited, Caparo Atlas Fastenings Limited, Caparo Tube Components 2 Limited, Caparo Tube Components Limited, Caparo Accles & Pollock Limited and Caparo Advanced Composites Limited – all in Administration (together the “Companies”)
Tony Barrell, Matthew Hammond, Ian Green, Ross Connock, Rob Hunt and Stephen Cave were appointed Joint Administrators of one or more of the Companies on 19 October 2015.
Caparo Industries plc (“CIP”) is a Midlands and London headquartered diversified industrial group. CIP comprises approximately 20 individual business which are active in UK steel and associated engineering businesses. Specific activities include the forging and pressing of metal products for aerospace, automotive and other industries. It also produces fastenings, wire, tubes and other accessories.
CIP is part of a global network of businesses under the Caparo name, with operations in China, India and the US. Other than the companies specifically listed in the footer of this email all other business interests of Caparo are unaffected. Specifically three subsidiaries of Caparo Industries plc are not in administration, these are Caparo Merchant Bar and Caparo India (both UK entities) and Bomet SA (a Polish business), those businesses continue to operate normally.
The recent impact that low commodity prices, exchange rates and China’s steel production has had on the UK Steel industry, extended to certain company's within CIP, impacting results and the funding requirements of the business. This resulted in the directors taking action to appoint administrators to protect the business as much as possible.
David Matthew Hammond, Anthony Steven Barrell, Robert Jonathan Hunt and Ian David Green were appointed as Joint Administrators of Caparo Industries plc on 19 October 2015.
David Matthew Hammond, Anthony Steven Barrell and Robert Jonathan Hunt were appointed as Joint Administrators of Caparo Engineering Limited on 19 October 2015.
David Matthew Hammond and Anthony Steven Barrell were appointed as Joint Administrators of Bridge Aluminium Limited, Material Measurements Limited and GW 957 Limited on 19 October 2015.
David Matthew Hammond, Anthony Steven Barrell, Robert Jonathan Hunt and Ross David Connock were appointed as Joint Administrators of Caparo Steel Products Limited on 19 October 2015.
David Matthew Hammond, Anthony Steven Barrell and Ross David Connock were appointed as Joint Administrators of Caparo Precision Strip Limited and Caparo Precision Tubes Limited on 19 October 2015.
David Matthew Hammond, Anthony Steven Barrell, Robert Jonathan Hunt and Stephen Arthur Cave were appointed as Joint Administrators of Caparo Vehicle Products Limited on 19 October 2015.
David Matthew Hammond, Anthony Steven Barrell and Stephen Arthur Cave were appointed as Joint Administrators of Caparo Vehicle Technologies Limited, Caparo Modular Systems Limited, Caparo Atlas Fastenings Limited, Caparo Tube Components 2 Limited, Caparo Tube Components Limited, Caparo Accles & Pollock Limited and Caparo Advanced Composites Limited on 19 October 2015.
Each of the Joint Administrators were appointed to manage the affairs, business and property of the respective companies as their agents and without personal liability.
David Matthew Hammond, Anthony Steven Barrell, Robert Jonathan Hunt, Ross David Connock and Ian David Green are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales. Stephen Cave is licensed to act as an Insolvency Practitioner in the United Kingdom. The licence is granted in Ireland by the Chartered Accountants Regulatory Board.
The Joint Administrators are bound by the Insolvency Code of Ethics which can be found at: https://www.gov.uk/government/publications/insolvency-practitioner-code-of-ethics
The Joint Administrators are Data Controllers of personal data as defined by the Data Protection Act 1998. PricewaterhouseCoopers LLP will act as Data Processor on their instructions. Personal data will be kept secure and processed only for matters relating to the Administration.
