Tuberex Calls in Administrators

Matthew Hammond and Rob Hunt of PricewaterhouseCoopers were appointed Joint Administrators of Tuberex Exhaust Systems Limited on 30 March 2005. Based in Stafford West Midlands, Tuberex manufactures and assembles car exhaust systems for the after market and is considered to be number three in the UK market with a 12 per cent market share. It has suffered from difficult trading conditions in the last 18 months, largely, as a result of increasing steel prices. The company has a turnover of around £10 million and employs 130 people.

“We are currently reviewing the Company’s financial position to establish whether a restructuring of the Company is possible. In the meantime Tuberex continues to trade as normal,” commented joint administrator, Matthew Hammond.