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UK engineering group to close down ailing Polish unit


2012-08-13



The 600 Group Plc, a UK diversified engineering group, has decided to file for the bankruptcy of Fabryka Maszyn Tarnow (FMT), a Tarnow-based manufacturer of machine tools that it acquired in 2010, following the failure of talks with a new investor, it emerged on 10 August.

FMT makes lathes and milling machines and employs about 200 people. Its history dates back to 1917. Between 2003 and 2010 it was a unit of state-owned military equipment group Bumar.

The 600 Group Plc says it is not longer able to provide funding for FMT, which has become practically insolvent.

The 600 Group Plc has three main areas of activity: machine tools, precision engineered components, and laser marking.



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