The UK arm of a South Korean-owned turbine tower supplier has gone into administration.
CS Wind, based in Campbeltown, Argyll and Bute, Scotland, had previously been mothballed for a little over a year when it failed to win new contracts. Assets will now be offered for sale and these include plant and machinery along with a residential property used as management accommodation.
The business designed, manufactured, and supplied wind tower solutions to clients in the UK and Europe. It had an established presence within the Argyll region, but because of market conditions, was described as unsustainable and with no immediate prospect of recovery. The directors of the company had begun a managed wind down during 2020.
However the business had previously thrived and in 2015, it had employed 482 people, while in 2018, it recorded pre-tax profits of £7.1 million in 2018. Despite this, by 2019, there was no activity on site. In the summer of 2020, local politicians joined forces with the union Unite Scotland to issue an open letter to CS Wind urging them to seek orders for the plant or let others take over the facility.
At the time, the company’s executive director, Yun-Cheol Kim said he wanted talks with Scottish ministers to help with future strategy. He said the company needed help in winning major projects that would secure its position. However, this failed to materialise and all staff has now left the business or been made redundant.