Alumet lends a helping hand to insolvent competitor

Posted on 3 Nov 2011 by The Manufacturer

Windows and façade specialist Alumet has leaped to the rescue of a competitor firm after it was forced to close.

Six members of Staffordshire-based building company Parry Bowen, forced into administration last week, have been taken on by Alumet.

Alumet Group’s CEO Gary Summers commented, “Parry Bowen was a well run company with a great reputation and a reasonable order book, but still succumbed to the commercial pressures which lower margins exert upon a business.

“Out of bad news we have created good news. The appointment of these key members of staff will help us towards a secure future and their knowledge and experience will provide our contractors with the best possible service.”

Twenty-year old building cladding specialist Parry Bowen, who had a big building contract in the London Olympic Village, sent its 150 staff home last week after announcing the news. 130 of these were based at Burntwood Business Park near Walsall.

In a statement released by the company, directors explained how they believed they had enough cash reserves to keep the firm going through a difficult trading period, but had to make the tough decision to close the business.

It read: “The dreadful state of the construction market over the last couple of years has unfortunately seen these reserves disappear, as reduced margins and customers’ reluctance to pay have taken their toll.”

The six new staff bring with them several years of experience in the construction industry.

In the past 12-months, Alumet has gained both IS0 14001 and Investors in Excellence accreditations and Alumet’s achievements have validated further with a run of industry accolades, including a triple win at the Construction News Awards for Building Envelope, Training and Special Award 2011.