Search

Hethel-based Scion-Sprays Ltd goes into liquidation

06:30 21 July 2012

Scion Sprays at Hethel Engineering Centre which has gone into liquidation

Scion Sprays at Hethel Engineering Centre which has gone into liquidation

Archant

An innovative engineering firm which was developing a product to reduce emissions and improve small engine efficiency has gone into liquidation after it was unable to secure the funds to become a manufacturing entity.

The directors of Scion-Sprays Ltd have decided to cease trading making 17 staff in Norfolk redundant.

The company was based at Norfolk County Council’s Hethel Engineering Centre in South Norfolk.

Six manufacturing staff in China, who made standard components for the engine management product, have also lost their jobs.

It is hoped that the intellectual property and manufacturing assets of the company can be sold, and there are discussions ongoing with interested parties.

The company - which was part of the EDP Future 50 - until now was funded by a private investor in the Netherlands.

In a statement the company said: “As a result of being unable to secure the funding necessary to ensure the transition from research and development into a manufacturing entity for its engine management system, the directors of Scion-Sprays Ltd took the difficult decision to cease trading from 22 June 2012 and place the company in liquidation.

“Negotiations are currently taking place with various parties interested in acquiring the assets of the company.”

In 2011 after securing a customer the company set up injector production at Hethel, which required a £250,000 investment in machinery including automatic testing of injector quality.

In 2011 the company turnover was £250,000.

Search hundreds of local jobs at Jobs24

Management Jobs

Show Job Lists

Insight

Start-ups and new businesses gathered for an event hosted by the Sheriff of Norwich, Richard Marks. Pictured from left are entrepreneur Steffan Aquarone, John Lewis Partnership chief information officer Paul Coby, Mr Marks and Cafe Rouge founder and UEA chancellor Karen Jones, who spoke at the event. Picture: Steve Cox.

There are many things which can keep business owners awake at night – but finding ways of paying more tax is not likely to be one of them.

Better access to finance made 2016 a good year for entrepreneurs, according to research from Barclays. Picture: PA Photo/thinkstockphotos.

The past year will be remembered for economic uncertainty, but it was a good time for entrepreneurs, writes Barclays’ Simon Smith.

Green 100

cover

Enjoy the Green 100
digital edition

Read
0

Meet the Team

Mark Shields

Business Editor

|

Chris Hill

Agricultural and Farming Editor

|

Business Most Read

Awards

Norfolk Future 50 EDP Business Awards Green 100

Business Most Commented

Newsletter Sign Up

Sign up to receive our regular email newsletter