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

Kevin Jordan is Credo Asset Finance's prestige and luxury vehicle specialist.

Sponsored: If you’re looking for a dream car for Christmas, Credo Asset Finance’s prestige and luxury vehicle specilist can find you the right deal, says Simon Gray.

From left, Sarah Gilder and Dominique Fell-Clark of Digibee. Sarah has taken part in a Future50 work shadowing project with neighbouring business The Avanti Group.

How can you bring new skills into your business when staff turnover is low and money may be tight? SHAUN LOWTHORPE talks to the Future50 businesses swapping ideas as part of an informal work shadowing programme.

Green 100

cover

Enjoy the Green 100
digital edition

Read

Mustard TV

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