The global site of the UK's leading magazine for automation, motion engineering and power transmission
13 November, 2019

Product and Supplier Search

Facebook

Motion control firm rescues Jena Tec from administration

23 October, 2019

A new Mansfield-based business, Motion Control Engineering, has acquired the business and assets of Jena Tec Precision, the Nottingham-based manufacturer of linear and rotary motion products that was placed in administration last month, following financial difficulties.

Motion Control Engineering has been set up by Chris Truman, who was previously managing director of Kuroda Jena Tec. He says that the rescue of the business “has enabled the continued employment for the team and for the ongoing supply of the full range of products which had been built up over many years. This is a good result for the industry as a whole, and we look forward to an exciting future for all of our stakeholders.”

Jena Tec, whose products include ballscrews, spindles and actuators, was placed in administration on 17 September 2019. According to the joint administrators, BM Advisory and Finn Associates, this was a result of a slowdown in business and consumer confidence as a result of the UK's current volatile political and economic climate.

“The UK manufacturing sector has been under significant pressure in recent months as a result of issues surrounding Brexit,” says joint administrator, Michael Solomons of BM Advisory. “Jena Tec suffered the knock-on effects, resulting in a downturn in sales principally due to consumer caution. This led to severe cashflow difficulties and, ultimately, rendered the business insolvent.”

Jena Tec Precision's product portfolio includes ballscrews

He adds that the sale “preserves all jobs and enables the future trading of the business – a positive outcome for employees and welcome news for the manufacturing sector”.




Magazine
  • To view a digital copy of the latest issue of Drives & Controls, click here.

    To visit the digital library of past issues, click here

    To subscribe to the magazine, click here

    To see the latest Products & Services Directory, click here

     

Exhibition

Birmingham 2020The next Drives & Controls Exhibition and Conference will take place in Birmingham, UK, from 21-23 April, 2020. For more information on the event, visit the Show Web site

Poll

"Do you think that robots create or destroy jobs?"

Newsletter
Newsletter

Events

Most Read Articles