United Kingdom | One of the UK's leading rubber recycling plants has entered administration, putting 20 jobs at risk. Port Talbot-based TyreGenics had already laid off 14 workers late last year because of a problem with vital components used in its process.The company opened its £4 million operation in July 2007. It uses advanced cryogenic technology to freeze tyres with liquid nitrogen prior to reducing the material to a crumb used in flooring, artificial sports pitches and insulation.
According to administrators at Begbies Traynor, they are hopeful that the remaining 20 jobs will be saved. 'The sudden nature of the contraction in the company's key market has meant the company has been unable to capitalise on the progress it had been making in new markets,' a spokesman says. 'Although the company operates in a niche market within the recycling industry, the plant was set up at substantial capital expense which, combined with its unique nature and capabilities, has created encouraging early interest. We are optimistic that the plant will be sold for continued operation in South Wales.'
