Telehoist tips out
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• Troubled Telehoist is closing its Cheltenham plant and moving production in with the hydraulic division of parent Warwick Industries..
The body and hydraulic manufacturer which has been losing money for the past 12 months, says that most of the 150-strong workforce will be made redundant. But it insists the 60-year-old Telehoist name and its production of tipping gears, bodies, skip loaders and ariel access platforms will continue.
The move to the Lichfield and Alcester plants will be made in mid-November, as a cost-saving measure. Owner of parent Warwick Industries, Norman Gidney, says the large old building at Cheltenham needed a large volume of production to be economical, but there was a slump in business because of the recession in the building industry.
Meanwhile, composite panel manufacturer Truck Panels has gone into receivership after a difficult 15 months' trading.
The Staffordshire-based firm which was set up nine years ago blames its bad debts on four of its major customers winding-up, namely HTT, Banbury Horse Boxes, Carrymaster and Strom GRP.
However, the company has £250,000 worth of orders, enough to keep both of its factories running at full capacity for up to six weeks, and the biggest amount of work it has had for 12 months.