A West Midlands based iron and aluminium foundry business has gone into administration, resulting in 86 redundancies.
Founded in 1920, Incanite Foundries operated aluminium and iron foundries, supplying castings and project development solutions to a number of global manufacturing and engineering customers for use in a variety of industry sectors.
The company traded from premises in Smethwick and had a workforce of just over 100 people.
Prior to an acquisition of the company in early 2012, Incanite focused only on the iron foundry business, then expanded into the aluminium castings market.
As a result of loss of a number of customers, the company experienced “serious cash flow issues” and ceased trading at the end of 2013.
The 86 redundancies took place in January 2014, prior to the appointment of Guy Mander and Dilip Dattani of Baker Tilly as joint administrators.
Guy Mander said: “Major investment was made to grow the business, however the loss of customers and associated cash flow implications meant that Administration was necessary in order to protect assets for the benefit of creditors.”