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County Durham glass maker could be sold

Post Time:Mar 23,2011Classify:Industry NewsView:83

A flagship North-East renewable energy firm could be sold as rescue plans are drawn up for the business that has endured a turbulent 12 months.

An ongoing probe into the accounts of specialist glass maker Romag, of Leadgate, County Durham has led to the firm being forced to revise its 2009 figures, and it will also miss the six month deadline required under Stock Exchange rules for publishing its 2010 results. As a result Romag's shares must remain suspended from trading until the new accounts are released.

The firm which employs about 180 workers making bullet and blast proof glass and assembling photovoltaic solar panels has been regarded as one of the leading lights in the region's bid to become a hub for the renewable energy sector. It has received millions of pounds in funding from One North East to help buy manufacturing equipment and to develop a solar power training and innovation centre, according to a March 23 report in The Northern Echo.

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Source: http://www.glassmagazine.com/news-item/commercial/county-durham-glass-maker-could-be-sold-117818Author:

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