Firm with Welshpool base brought out of administration
An engineering firm has been brought out of administration with a stripped-back workforce.
Dytecna Limited, which is based in Malvern but which has a base on the Offa's Dyke Business Park in Welshpool, went into administration in February.
At the time the company employed 150 people, but the company will now be moving forward with a staff of 65 following its acquisition by Exsel Dytecna Engineering Limited, a company owned by engineering specialist Dynasystems.
It will, however, be retaining all its three bases, including at Welshpool.
In a statement following the deal Dynasystems said: "This will create a more efficient and stronger business all round, by taking in the legacy of Dytecna into Exsel Dytecna Engineering Limited and will create much needed jobs for the people, local economies and UK defence manufacturing.
"As well as UK centric business, we hope to be able to bring more international work to the company through the other businesses in our privately owned group, giving access to NATO and other defence and security related parties.
"This new stronger organisation will build on the combined capabilities of these businesses and provide access to a wider marketplace to enable the planned growth of this combined entity."
Dytecna provides design, engineering and manufacturing services predominantly to the defence industry.
Its Welshpool operation is the group's centre of excellence for design, manufacture and testing of software and electronic systems.
Philip Watkins, joint administrator at FRP Advisory, added: "We are delighted to have completed this transaction to Exsel Dytecna Engineering who will now be able support Dytecna customers."
In the 16 months until March 31 last year, Dytecna achieved turnover of £22.4 million, and was in the black, drawing in a profit of £221,779. It also has a site in Fareham in Hampshire.
