Matrix Engineered Systems slips into administration
Acted for PricewaterhouseCoopers as administrators of Matrix Engineered Systems, an engineering firm which slipped into administration last month following cash flow problems.
Matrix Engineered Systems, based in Brechin, has now been sold to Kelman Engineering, securing 70 jobs. Matrix, which has been trading since 1939, manufactures steel assemblies for the rail, printing, oil & gas, and marine handling sectors.
Semple Fraser advised on complex supply contracts, securities and employment issues surrounding the administration and also on the sale of the business.
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