A steel fabrication company owned by troubled offshore wind developer, Bard, will close its doors at the end of April.
Cuxhaven Steel Construction specialises in the manufacture of tripile foundations and other steel constructions for offshore wind farms. It will close on 30th April 2013, announced parent company, Bard Group, which has been seeking to sell parts of its business since it admitted failure last year in attracting much-needed new investment.
The steel firm has remained in operation since last summer thanks to its work on the Bard Offshore 1 project and a few smaller contracts. The company’s management agreed a compensation package for workers as long ago as last August.
Despite efforts to keep the business going, Bard Group finally decided it has no alternative but closure. "This reflects the current situation in the offshore sector as a whole in which for some considerable time now there has been a lack of new contracts due to the uncertain political framework," said Bard today.
Twenty-five of around 120 employees will continue to be employed within other Bard companies.