Jobs saved at marine firm
A SUFFOLK firm which two months ago announced 40 redundancies is today looking forward to a brighter future after winning contracts worth £2 million.LEC Marine (Lowestoft) Limited was placed in voluntary administration after a major customer collapsed owing the company a reported £1 million.
A SUFFOLK firm which two months ago announced 40 redundancies is today looking forward to a brighter future after winning contracts worth £2 million.
LEC Marine (Lowestoft) Limited was placed in voluntary administration after a major customer collapsed owing the company a reported £1 million.
It had to axe 40 people, around 25 in the West Country with the rest spread between the firm's operations in Felixstowe, Lowestoft and Great Yarmouth.
The company now says the new contracts it has gained will help bolster the company's order book well into the New Year, providing a boost to employees' security and morale, and taking it out of administration in January.
You may also want to watch:
Recent orders include a new electrical installation aboard the paddle steamer Tattershall Castle for George Prior Engineering Ltd, supply of electrical designs and equipment for a catamaran car ferry FBM Babcock Ltd, and various major electrical refit works for A& P Falmouth Ltd.
Steven Law, from Ensors Chartered Accountants, said the company would exit from administration during January when it was expected that creditors would support his proposals put forward as the administrator.
- 1 Bin lorry driver ran over colleague's leg in Kesgrave
- 2 Community 'very shocked' by stabbing in Ipswich
- 3 Woman 'alarmed and distressed' after verbal abuse in Ipswich
- 4 Drug dealer seen bragging in YouTube rap videos
- 5 Sought-after Felixstowe beach hut sells for £88K
- 6 Work to start on new Ipswich town centre retirement homes
- 7 Burglary at O2 store in Ipswich town centre
- 8 Man to be sentenced over 'dine and dash' spree
- 9 Man who controlled Ipswich drug line jailed for five years
- 10 Pair in court following suspected stolen dogs raid at West Meadows
Mr Law said: "It is still too early to tell how much of a dividend the creditors will receive. However, much will be down to the company's profitable trading in the future which can only be helped by these large new contracts.
"I have been extremely impressed with the support given to the company during this difficult time by the staff customers and suppliers.
"I have visited local customers and also shipyards on the south coast of Britain Without exception those customers wish to support the company into the future and have shown their faith by placing new orders."
Mark Sawyer, LEC managing director, said: "We have been bowled over by the faith shown in LEC Marine and are extremely pleased and excited to have recently been awarded several prestigious contracts since going into administration.
"LEC Marine has an extremely loyal and committed workforce and the securing of the new orders is no small part due to their commitment and high standard of workmanship."
LEC Marine is currently in close discussions with other potential customers and is extremely hopeful in securing further contracts in the very near future.