Defence supplier Dytecna bought out of administration
DEFENCE sector engineering firm Dytecna has been sold out of administration in an undisclosed deal which secures the jobs of 65 people.
The Worcestershire company, headquartered in the Malvern Hills Science Park and with operations in Welshpool and Fareham, collapsed into administration last month, threatening the jobs of 150 people.
Specialist restructuring firm FRP Advisory has brokered a deal which has seen the assets of Dytecna sold to Exsel Dytecna Engineering Ltd, a company owned by Dynasystems Ltd, a global Force Protection Engineering specialist.
The new company will continue to trade from Dytecna’s exciting premises in Malvern, Fareham and Welshpool.
Philip Watkins, joint administrator at FRP Advisory, said: “We are delighted to have completed this transaction to Exsel Dytecna Engineering who will now be able support Dytecna customers.”
In a statement, Dynasystems said: “This will create a more efficient and stronger business all round, by taking in the legacy of Dytecna into Exsel Dytecna Engineering and will create much needed jobs for the people, local economies and UK Defence Manufacturing.
“As well as UK centric business, we hope to be able to bring more international work to the company through the other businesses in our privately owned group, giving access to NATO and other defence and security related parties.
“This new stronger organisation will build on the combined capabilities of these businesses and provide access to a wider marketplace to enable the planned growth of this combined entity.”
Dytecna is a business with its roots tracing back to 1947. The company’s projects have included engineering solutions for wastewater treatment for battlefield and refugee camp situations.
