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Ukraine war hits Black Country marine industry supplier

Administrators are now hoping to sell Metalast as a going concern after Dudley outfit hit by ongoing conflict

The war in Ukraine has impacted Black Country business Metalast(Image: Alexey Furman/Getty Images)

The war in Ukraine has caused a Black Country supplier to the marine and engineering industries to fall into administration.

RSM º£½ÇÊÓÆµ has been appointed to Dudley-based Metalast and is now hoping to find a buyer to take on the business.

The company was founded more than 15 years ago and supplies ballast and counterweight products, primarily to the marine, civil engineering and heavy lifting industries.

But administrators said it had been severely impacted by the war in Ukraine which effectively halted sales to two of its main markets, there and Russia.

They are now seeking a buyer for the business or alternatively looking to maximise realisations from its assets for the benefit of creditors.

Metalast's turnover was approximately £2.6 million in 2022. It employs five people who are currently still working for the business but it has temporarily halted deliveries while RSM º£½ÇÊÓÆµ seeks to sell the company as a going concern.

Diana Frangou, joint administrator from RSM º£½ÇÊÓÆµ with Chris Lewis, said: "Regrettably, due to the cash flow issues, the company has been placed into administration.