1. ITV Report

Armoured vehicle manufacturer saved from closure

Penman Engineering in Dumfries Credit: ITV Border

A Dumfries-based armoured vehicle manufacturer that went into administration has been saved from closure.

Forty-four workers at Penman Engineering were made redundant when administrators KPMG took over last month.

KPMG announced today that the business has been sold to commercial vehicle builder, Martin Williams (Hull) Limited securing the future of the site and the jobs of 16 members of staff who'd been kept on.

The business has been in operation since 1859, specialising in the design, construction and software development of security and armoured military vehicles.

In 2017 it was rescued from a previous administration.

“The Penman business has a rich heritage in Dumfries and its team of employees are renowned for their knowledge and innovation in the field. Despite the company’s best efforts, cashflow challenges meant the business in its previous form could no longer find long-term sustainable solutions, leaving it no other choice but administration.

“Today’s announcement secures the future of 16 highly skilled roles in Dumfries. The buyer has previously invested in and understands the strength and growth potential of the Penman business. Our focus now as administrators will be on securing the sale of Penman MW Limited’s armoured vehicle intellectual property.”

– Blair Nimmo, Head of Restructuring at KPMG UK and joint administrator