UK colour masterbatch and compound producer Addcolour Plastics (GB-Wigan WN5 0LG; www.addcolour-plastics.co.uk) has been bought out of receivership by the UK arm of Gabriel-Chemie (GB-Paddock Wood, Kent TN12 6UT; www.gabriel-chemie.com). Administrative receiver Begbies Traynor told Plasteurope.com the Addcolour business had been squeezed both on volume and price by increased competition, particularly from overseas. After making 20 employees – equivalent to 80% of its workforce – redundant, it had continued to operate at very reduced capacity to meet existing orders. Gabriel-Chemie will now provide supply continuity to Addcolour customers.

“We see this as a big opportunity for the Gabriel-Chemie organisation,” said UK managing director Greg Hammond . He said this will “give us the chance to build new partnerships in the plastics industry and deliver the G.C. customer care ethos into new areas.”

The deal includes ISO9002-approved Addcolour´s goodwill and stock, but not plant and machinery, which is to be auctioned on 8 February. No assets will be sold before that date. The company operated from a purpose-built, 5,000 square metre complex with a capacity of 1,500 t per month for masterbatch, compounds and dry colours. There was also a recycling facility.