Nippon Electric Glass (UK) Ltd in liquidation

Date: 26 June 2006
Source: Creditman.biz

Date: 26 June 2006

ICC Credit one of the UK’s leading credit reference agencies reports that Nippon Electric Glass (UK) Ltd based in Cardiff, has gone into liquidation.

Nippon Electric Glass (UK) Ltd, a maker of glass used for traditional-style television screens, was established in 1994 under the name Danceglobal Ltd and it continued using this name until 1995.It then changed its name to Ocean Technical Glass Ltd, which it traded under until 1997.

Over last 5 years the company’s financial state has been changing year by year. In 2000 Nippon Electric achieved sales of £125m, with a pre-tax profit of £25m. After that, the company’s performance declined steadily. In 2004 the turnover was still high reaching a figure of £94m, however profitability dropped significantly to £2.4m

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