50 jobs are lost as Compac is closed

Compac Print, part of the CMCS Group of companies, has closed due to "declining orders" with more than 50 redundancies.

The Swindon-based music and video packaging printer, whose main client was EMI, announced the closure to staff on 5 February.

GPMU South Wales and Shires branch officer Martin Hodges said: "They were simply instructed to finish their shift and leave. All they were told was that it was to do with orders."

Hodges said the firm had begun transferring machinery to the CMCS Dartford plant at the end of November. In total one six-colour press, one five-colour, one four-colour and a B2 two-colour were removed.

According to Hodges, the machinery, including the existing kit, is owned by Robland, which is the holding company for CMCS Group. CMCS Group managing director John Hersey-Walker is one of Roblands principal shareholders.

CMCS Group made a profit of 144,000 on sales of 9.8m for the year to 30 June 2001. For the same period Compac Print posted a pre-tax profit of 158,684, but it didnt report a turnover figure.

Mazars Neville Russell has been appointed as liquidator and, according to senior manager Zoe Faulker, they are there simply to "assist Compacs directors, who are still in place, until trading ceases at the creditors meeting on 11 March".

CMCS specialist fulfilment arm Mediapac, which is based on the same site as Compac, also closed.

Compac Print group operations director Adam Teskey is believed to have left the firm. John Hersey-Walker was unavailable for comment as PrintWeek went to press.

Story by Rachel Barnes