Cornish quarry sold out of administration
CASTLE Granite Ltd, which went into administration in April 2009, has been sold as a going concern for an undisclosed sum to Cornwall Council. All 12 jobs at the company, which operates from Castle-an-Dinas Quarry, near Penzance, have been secured.
Joint administrators Ian Walker and Gilbert Lemon from business recovery and insolvency specialists Begbies Traynor, in Plymouth, undertook an extensive marketing campaign during which time the business continued to operate.
There remains a strong local market for the granite quarry’s high-quality natural stone and aggregate products, and its coating plant supplies material for road construction throughout Cornwall.
During the seven-month marketing campaign, Begbies Traynor received no fewer than 22 separate expressions of interest. The deal with Cornwall Council secures a long-term supply of road and construction materials directly used by the Council in the region.
Cornwall Council’s highways business manager, Robin Fisher, said: ‘This is an excellent purchase for the Authority, which not only secures employment for local people but enables us to enter the coated-stone supply market at a very reasonable entry point. We look forward to this quarry becoming an excellent addition to our service provision.’
Ian Walker added: ‘This is a good deal for the employees and creditors of Castle Granite Ltd. It is also a positive indication of the Council’s commitment to public sector spending and its support for local business.’
Joint administrators Ian Walker and Gilbert Lemon from business recovery and insolvency specialists Begbies Traynor, in Plymouth, undertook an extensive marketing campaign during which time the business continued to operate.
There remains a strong local market for the granite quarry’s high-quality natural stone and aggregate products, and its coating plant supplies material for road construction throughout Cornwall.
During the seven-month marketing campaign, Begbies Traynor received no fewer than 22 separate expressions of interest. The deal with Cornwall Council secures a long-term supply of road and construction materials directly used by the Council in the region.
Cornwall Council’s highways business manager, Robin Fisher, said: ‘This is an excellent purchase for the Authority, which not only secures employment for local people but enables us to enter the coated-stone supply market at a very reasonable entry point. We look forward to this quarry becoming an excellent addition to our service provision.’
Ian Walker added: ‘This is a good deal for the employees and creditors of Castle Granite Ltd. It is also a positive indication of the Council’s commitment to public sector spending and its support for local business.’
