UK plastics giant crashes into administration – founded in 1958 | UK | News
A plastics giant in the UK has gone into administration. Cygnet Plastics Ltd. was founded in 2020 and has operated from the same site since John Prior Plastics was founded in 1958, according to Companies House. The company specializes in plastic injection molders. The company’s base at Colwyn Bay on the North Wales coastline has been recently refurbished.
The business said on its website that it started in a small 5,000-square-foot unit and later expanded to 22,000 square feet. It was also stated that the site had “recently undergone a major renovation of buildings and machinery”.
Cygnet has 12 molding machines ranging from 15 to 1,380 tonnes and employs 20 staff.
He added: “The Cygnet team has worked in the plastics industry at various management levels for over 35 years and has extensive knowledge of the plastic injection molding trade.
“The company was part of a small group of two plastic injection molding companies. Our directors recognized the greater business potential of the facility in Colwyn Bay and spun off the company from the other facility in 2006.”
Then in December 2008, Cygnet expanded its operations by taking over a tool-making firm and moving it into its own facilities.
“Cygnet Plastics has secured the services of an experienced Molder to support the plastic injection molding process, ensuring customers have the option of doing all their molding requirements in-house,” the business said.
Following the acquisition of the toolroom facility, Cygnet “intervened” in the takeover of manufacturer Marlin Products in January 2009.
Cygnet added: “This has ensured that both Marlin’s existing customers and new customers continue to have the opportunity to purchase the wide range of high quality plastic boxes and plastic transport cases previously available to them.”
But despite these acquisitions, The London Gazette reported that administrators were appointed on 7 April.
These are Steven Muncaster and Hilary Pascoe from Leonard Curtis, who live in Manchester. The Express approached Leonard Curtis for comment.
