Hemp processor in administration
THE owners of the world's largest hemp processing factory in a Suffolk town have become one of the latest victims of the recession. A buyer is being sought for Hemcore Ltd, the Halesworth-based leader in industrial hemp processing and supplier of hemp products, after it went into administration.
THE owners of the world's largest hemp processing factory in a Suffolk town have become one of the latest victims of the recession.
A buyer is being sought for Hemcore Ltd, the Halesworth-based leader in industrial hemp processing and supplier of hemp products, after it went into administration on April 8.
Hemcore's main products include building materials and insulation solutions for the construction industry and for use in the manufacture of motor vehicles. Both sectors have been badly hit by the economic downturn, which in turn have damaged the company.
Ian Carr, a partner at administrators Grant Thornton, said: “Hemcore Ltd is an innovative business with a strong track record and excellent equipment. There is long-term potential if a suitable buyer can be found quickly.
“We are currently talking to a number of parties and would encourage anyone else who is interested in acquiring the business to get in touch immediately.”
Of the company's 12 employees, 10 continue to be employed; six in the factory and four in sales, marketing and administration. There has been one redundancy, while one individual left of their own accord, Mr Carr said.
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The factory at the Halesworth Business Centre in Norwich Road opened last year at a cost of �4million after the company relocated to Suffolk from premises in Hertfordshire.
It took two years to plan and develop the factory which processes locally grown hemp and uses the “shiv” 'fibre' and “dust” from the plant to make building material insulation, car door panels, fuel and pet bedding. The building material is called Hemcrete and mixes hemp with lime.
At the time, Hemcore's sales director John Hobson said the site would help to reduce the company's carbon footprint by minimising the time it took to transport the hemp plant from farmers.
He said: “The new factory has allowed us to increase capacity and the new base is now in the centre of our growing area to minimise transportation of raw materials. There is no waste at all from hemp with everything used and we are proud that we can operate a zero wastage policy in the factory.”
Anyone interested in acquiring Hemcore Ltd should contact Jill Rose on 07970443801.