Hull firm ‘strongly positioned’ to buy collapsed manufacturer

HULL-BASED Martin Williams has emerged as the potential saviour of Penman Engineering, the Scottish manufacturer of specialist vehicles which fell into administration in August.

Coachbuilder Martin Williams is “strongly positioned” to buy Penman, the Daily Telegraph has reported.

Mark Ranson, Michael Kienlen and Daryl Warwick, all partners with Armstrong Watson’s Restructuring, Recovery & Insolvency team are the appointed administrators.

Penman employed 140 people at its Dumfries site before its collapse. Armstrong Watson partners Mark Ranson, Michael Kienlen and Daryl Warwick were appointed administrators on August 31 but had been forced to reduce the workforce to 15 by the end of September.

The company made vehicles for military needs as well as cash in transit, infrastructure, nuclear and subsea industries. Before its collapse it had been preparing a tender along with BAE to supply the Ministry of Defence with 180 armoured vehicles.