UK: Modec enters administration

UK electric truck manufacturer Modec has entered administration. On 4 March 2011, R K Grant, S J Appell and A C O'Keefe of Zolfo Cooper were appointed joint administrators. So far, around half of the company’s 53 employees have been made redundant. According to the Financial Times, the OEM’s debts exceed Subscribe to Automotive World … Continued

• By Webmaster
• March 7, 2011