A NSW-based sheet metal manufacturing family business launched in 1986 has gone into liquidation.
The business, Advance Metal Products, which also trades under the names Bosco Storage Solutions and Boscotek, has two engineering and manufacturing facilities and approximately 150 employees.
The 27-year-old company is now under the management of Grant Thornton Australia administrators Paul Billingham and Andrew Sallway.
Billingham and Sallway said in a statement to SmartCompany that they are “urgently assessing the future viability of the group”.
They said they were investigating “whether a sale of all or part of the business is capable of being achieved”.
The administrators and company owners declined to comment further on the cause of the collapse.
The administration was reported as voluntary on ASIC.
The sheet metal and component manufacturer’s two engineering and manufacturing facilities comprise 9,0000m2 of floor space and are located in Ingleburn, south-west Sydney.
An advertisement for the sale of the business said it has “long-standing relationships with direct customers”, as well as an “Australia-wide distribution and reseller network”.
It also claimed a “strong forward order book”.
Advance Metal Products reports on its website that it produces precision components and assemblies for various industries, including aerospace, mining, gaming, architectural, defence and general manufacturing.
The Boscotek brand offers industrial workbenches and industrial storage systems solutions products.
Advance Metal Products lists a number of awards it has received, including the Ministers Award for Excellence Training of Australian Apprentices 2010, and Advanced Manufacturing Technology, Western Sydney Industry Awards 2004.
The business is one of many manufacturing companies to go into administration in recent times.
In May, a high-end residential blinds business went into administration, while in August scrap metal recycling company CMA Corporation also collapsed.
Melinda is a business writer and editor and helps companies to bring their brand stories to life through her small business, Oliver Content. Melinda was previously the content manager for KPMG Australia, an editor of SmartCompany, and spent many years as a journalist.
