HUNDREDS of jobs are at risk at an engineering company which built structures such as Swansea's Sail Bridge and parts of the Olympic Aquatic Centre.
Around 400 people are set to be affected by the decision this afternoon of Rowecord Engineering Ltd to call in administrators after more than 40 years of business.
News of the decision was being broken to staff today at the company which was also closely involved in the construction of the £185million blast furnace at Tata Steel's Port Talbot works.
Andrew Hoppe, managing director of Rowecord Engineering Ltd, said: "It is with great regret that we have had to come to the decision to place the business in the hands of the administrators.
"Working with key business partners and the Welsh Government, we have exhausted every option to sustain the business for the future.
"We will be looking to mitigate how this development may impact on the workforce.
"We are proud of all we have achieved over 40 years of trading and I'd like to take this opportunity to thank our customers, suppliers and other business partners.
"This is a very sad day.
"We are a family-run company and have a hugely committed, highly capable workforce.
"Above all I would like to thank them for their fantastic part in the Rowecord story and express our deep regret for the impact this will have on them and their families."
A spokesman for Tata Steel in Port Talbot said it was a sad day for the steel industry and added: "It is with great sadness we have heard that Rowecord Engineering has proposed to call in administrators."
A Welsh Government spokeswoman said: "This is very disappointing news especially for the company, its employees and their families.
"The Welsh Government has worked closely with Rowecord to support the business and offered assistance to the maximum level allowable within state aid rules.
"However, the offer was not taken up as Rowecord decided that it is in the best interests of its employees and partners to file for administration when a buyer for the business may be identified.
"In the meantime we will ensure that as much support as possible is made available to the employees including the Welsh Government ReAct programme."
Around 400 people are set to be affected by the decision this afternoon of Rowecord Engineering Ltd to call in administrators after more than 40 years of business.
News of the decision was being broken to staff today at the company which was also closely involved in the construction of the £185million blast furnace at Tata Steel's Port Talbot works.
Andrew Hoppe, managing director of Rowecord Engineering Ltd, said: "It is with great regret that we have had to come to the decision to place the business in the hands of the administrators.
"Working with key business partners and the Welsh Government, we have exhausted every option to sustain the business for the future.
"We will be looking to mitigate how this development may impact on the workforce.
"We are proud of all we have achieved over 40 years of trading and I'd like to take this opportunity to thank our customers, suppliers and other business partners.
"This is a very sad day.
"We are a family-run company and have a hugely committed, highly capable workforce.
"Above all I would like to thank them for their fantastic part in the Rowecord story and express our deep regret for the impact this will have on them and their families."
A spokesman for Tata Steel in Port Talbot said it was a sad day for the steel industry and added: "It is with great sadness we have heard that Rowecord Engineering has proposed to call in administrators."
A Welsh Government spokeswoman said: "This is very disappointing news especially for the company, its employees and their families.
"The Welsh Government has worked closely with Rowecord to support the business and offered assistance to the maximum level allowable within state aid rules.
"However, the offer was not taken up as Rowecord decided that it is in the best interests of its employees and partners to file for administration when a buyer for the business may be identified.
"In the meantime we will ensure that as much support as possible is made available to the employees including the Welsh Government ReAct programme."
