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| Version 1 | Version 2 |
|---|---|
| Rowecord Engineering, Newport: Steel firm in administration | Rowecord Engineering, Newport: Steel firm in administration |
| (35 minutes later) | |
| The Newport firm which built the roof of the Aquatics Centre for the London Olympics is to go into administration, with the likely loss of up to 400 jobs. | The Newport firm which built the roof of the Aquatics Centre for the London Olympics is to go into administration, with the likely loss of up to 400 jobs. |
| Rowecord Engineering Ltd said its staff were "likely to be informed that their roles will be redundant". | Rowecord Engineering Ltd said its staff were "likely to be informed that their roles will be redundant". |
| The firm has also worked on many landmark Welsh projects, such as the Cardiff City Stadium and the Parc y Scarlets rugby ground in Llanelli. | The firm has also worked on many landmark Welsh projects, such as the Cardiff City Stadium and the Parc y Scarlets rugby ground in Llanelli. |
| Rowecord is the biggest steel contractor in Wales. | |
| Administrators are to be appointed on Monday. | Administrators are to be appointed on Monday. |
| Managing director Andrew Hoppe said: "It is with great regret that we have had to come to the decision to place the business in the hands of the administrators. | Managing director Andrew Hoppe said: "It is with great regret that we have had to come to the decision to place the business in the hands of the administrators. |
| "Working with key business partners and the Welsh government, we have exhausted every option to sustain the business for the future. | "Working with key business partners and the Welsh government, we have exhausted every option to sustain the business for the future. |
| "We will be looking to mitigate how this development may impact on the workforce. | "We will be looking to mitigate how this development may impact on the workforce. |
| "We are proud of all we have achieved over 40 years of trading and I'd like to take this opportunity to thank our customers, suppliers and other business partners." | "We are proud of all we have achieved over 40 years of trading and I'd like to take this opportunity to thank our customers, suppliers and other business partners." |
| "This is a very sad day. We are a family-run company and have a hugely committed, highly capable workforce. | "This is a very sad day. We are a family-run company and have a hugely committed, highly capable workforce. |
| 'Deep regret' | 'Deep regret' |
| "Above all I would like to thank them for their fantastic part in the Rowecord story and express our deep regret for the impact this will have on them and their families." | "Above all I would like to thank them for their fantastic part in the Rowecord story and express our deep regret for the impact this will have on them and their families." |
| The firm was founded in 1970 and has been a steelwork contractor on major projects, bridges and industrial process plant. | The firm was founded in 1970 and has been a steelwork contractor on major projects, bridges and industrial process plant. |
| In addition to the waveform roof of the Olympic Aquatics Centre, the firm has also worked on: | In addition to the waveform roof of the Olympic Aquatics Centre, the firm has also worked on: |
| A Welsh government spokesperson said: "This is very disappointing news especially for the company, its employees and their families. | A Welsh government spokesperson said: "This is very disappointing news especially for the company, its employees and their families. |
| "The Welsh government has worked closely with Rowecord to support the business and offered assistance to the maximum level allowable within state aid rules. | "The Welsh government has worked closely with Rowecord to support the business and offered assistance to the maximum level allowable within state aid rules. |
| "However, the offer was not taken up as Rowecord decided that it is in the best interests of its employees and partners to file for administration when a buyer for the business may be identified. | "However, the offer was not taken up as Rowecord decided that it is in the best interests of its employees and partners to file for administration when a buyer for the business may be identified. |
| "In the meantime we will ensure that as much support as possible is made available to the employees including the Welsh government ReAct programme." | "In the meantime we will ensure that as much support as possible is made available to the employees including the Welsh government ReAct programme." |