ROCHDALE, England (Jan. 26)—Carter Brothers (Rochdale) Ltd.'s rubber machinery business, which went into receivership in December, has been taken over by a new company headed by the son of the firm's owner.
Carter International Ltd., established Dec. 1 by Peter Fletcher—son of Carter Brothers owner Jon Fletcher—intends to start business in early February making and selling the Carter Brothers' lines of internal mixing machines, calenders and extruders at space leased at the Carter Brothers' factory in Rochdale. Carter International is seeking new premises in the same general vicinity, CEO Peter Fletcher said.
Carter Brothers went into receivership Dec. 8 having run up losses over the last few years. For its fiscal 2003, ended March 31, the firm reported operating losses of nearly $500,000 and debts of about $4 million.