Halesworth factory in administration
THE company behind the world's largest hemp processing factory is on the market after going into administration.Halesworth-based Hemcore has been hit by the economic downturn, due mainly to its reliance on the construction and motor industries, which have both been badly hit over recent months.
THE company behind the world's largest hemp processing factory is on the market after going into administration.
Halesworth-based Hemcore has been hit by the economic downturn, due mainly to its reliance on the construction and motor industries, which have both been badly hit over recent months.
Hemcore, which is a market leader in industrial hemp processing, has seen a fall in orders for building materials and insulation products for the car industry.
“Hemcore is an innovative business with a strong track record and excellent equipment,” said Ian Carr, a partner at administrators Grant Thornton.
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“There is long-term potential if a suitable buyer can be found quickly. We are currently talking to a number of parties and would encourage anyone else who is interested in acquiring the business to get in touch immediately.”
Of the company's 12 workers, 10 are still employed - six in the factory and four in sales, marketing and administration. There has been one redundancy, while one person opted to leave, Mr Carr said.
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The �4m factory at the Halesworth Business Centre in Norwich Road opened last year after the company relocated from Hertfordshire.
It took two years to plan and develop the factory, which processes locally grown hemp and uses it to make building material insulation, car door panels, fuel and pet bedding. The building material, which is called Hemcrete, mixes hemp with lime.
At the time of the move to Suffolk, Hemcore sales director John Hobson said the site would help to reduce the company's carbon footprint by minimising the time it took to transport the hemp from farmers.
“The new factory has allowed us to increase capacity and the new base is now in the centre of our growing area to minimise transportation of raw materials,” he said.
“There is no waste at all from hemp with everything used and we are proud that we can operate a zero wastage policy in the factory.”