Precision engineering firm edges towards administration

A Birmingham-based precision engineering group is facing an uncertain future, TheBusinessDesk.com understands.

Carbide Dies (Birmingham), which operates from Port Hope Road in the city, has posted a notice of intention to appoint administrators. The move will protect the company from creditor action for around a fortnight.

Carbide Dies was set up in 1973 and manufactures and supplies standard and specialised fastener tooling and dies to global major Tier 1 and OEM companies in the automotive, aerospace, construction, defence, rail, energy and medical sectors.

It is part of the wider CTR Manufacturing Group, also based at the Sparkbrook address.

In its latest available accounts, made up to the end of 2021, the company had assets of just under £625,000, while it owed creditors £522,000.

At the time, the company employed 18 people – a drop from 30 in 2020.