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Brighouse firm put into administration
1:44pm Wednesday 20th January 2010 in Business
A West Yorkshire ambulance manufacturer has been placed in administration by its owners following a business review.
UV Modular, based in Brighouse, has been put into administration by its Middlesex-based parent company AssetCo, which has decided to withdraw from its low-margin equipment businesses and focus on other growth opportunities.
The announcement came after UV Modular announced it had won an £8 million contract to supply ambulances to the Scottish Ambulance Service NHS Trust.
John Shannon, AssetCo chief executive, said: “As a result of the changing focus of our business in the UK and overseas, we continue to review and challenge the shape of the current business and are taking active steps to adapt it in order to focus on the changing needs of our clients.
“As part of this and following completion of a strategic review earlier in the year we have embarked upon an exit from our vehicle assembly business, and expect this to be completed by Spring 2010.”
The Brighouse company was originally created in 2002 from the merger of UVG with Modular Ambulance. The firm, which employs about 200 staff, was acquired by AssetCo for £1.5 million in 2007.