300 jobs are under threat

Hundreds of jobs in Kidderminster were in doubt today after insulation manufacturer Ceramaspeed called in administrators.

The 300 workers at the company's head offices in Zortech Avenue, Oldington, were being informed of the situation today.

They were told that the joint administrators Nigel Morrison and Neil Tombs, from Grant Thornton, were hoping to find a buyer for the company which produces glass ceramic heating elements and electronic control systems.

It also has subsidiaries in the United States and Poland but these were said not to be affected, according to the administrators Grant Thorton business and financial advisers, based in Edmund Street, Birmingham.

A spokesman said they were keen to market the company as a going concern and that some interest from prospective buyers had already been shown in the company.

But the administrators said it was too early to speculate about prospective job losses.

Spokesman Mr Neil Tombs said the company had "fallen victim to the tough economic climate".

But he said he was "hopeful of finding a buyer" and that the company was continuing to run as a going concern.

The company's difficulties are blamed on demand for ceramic hobs and other items falling both here and in the United States.

Earlier this year the company blamed the high cost of manufacture in Britain compared to Eastern Europe and it was planning to transfer some production to Poland.

The company was founded in 1973.