Workers at a Highland energy services business face an uncertain future after it collapsed.
Halkirk-based Mowat Technical and Design Services (MTDS) works with a string of blue-chip clients and has a multimillion-pound turnover, but has gone into administration.
The engineering business, which employs 26 people, is being run as a going concern by administrator RSM Tenon, which said yesterday it was hopeful of finding a buyer for the company.
MTDS had annual turnover of £2million, but RSM Tenon said it had been sunk by cash-flow problems following heavy investment in research and development, including on a hydro-based renewable power system.
The company, founded in 1997, provides engineering, surveying, fabrication, installation and comm-issioning services for the likes of Wood Group, SSE, Amec and Maersk.
Joint administrator Iain Fraser said: “MTDS has an outstanding reputation for its expertise in the design, procurement and installation of specialist plant and equipment.
“The business has a blue-chip client base and a strong pipeline of potential work, together with the valuable intellectual property that has already been developed for its exciting hydro-based power system.
“We are marketing it for sale with immediate effect, and would urge interested parties to make contact.”
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