Sycamore Aviation takes flight with rescue dealBy Matthew Ord, Digital Staff Writer
Aircraft decommissioning company Sycamore Aviation, which recently fell into administration, has been acquired by Glyn Wall.
The company, which received more than £750,000 of funding last year, had ceased trading after a lack of orders through 2014. Administrators Steven Philip Ross and Ian William Kings of Baker Tilly were appointed on 22 October 2014 and were negotiating the sale of the company's assets.
Sycamore is now "fully operational and open for business". The original workforce is expected to be integrated into the new team.
A statement Durham Tees Valley Airport, where Sycamore is based, said: "As our masterplan for the future of the airport and the overall site development made clear, we believe there are substantial business opportunities for attracting aviation-related activities - including aircraft dismantling and recycling.
"We are pleased that the business of Sycamore Aviation has now been acquired by Glyn Wall Ltd and look forward to working with the new company in taking forward their business plans."