Liquidators have been appointed to take UK-based Bulgin Power Source, an Elektron subsidiary, into voluntary liquidation.
Bulgin Power Source (BPS), a Lincoln-based power supply manufacturer, were facing mounting financial losses in a weakened market. Its parent Elektron considered that continued financial support could not be justified.
Elektron were careful to stress that the announcement would not effect the activities and operations of Bulgin Components, the Barking-based manufacturer of electromechanical products.
BPS designed and manufactured Power Management Systems for critical applications in the utilities, automation, information technology and security markets.