Upper Hutt company Acma Industries in administration

Acma Industries chief executive John Bowmar.
BLAKE CRAYTON-BROWN/STUFF

Acma Industries chief executive John Bowmar.

Upper Hutt manufacturer Acma Industries has gone into voluntary administration.

Acma is a polyurethane component manufacturer, which specialises in fire-retardant foams and carpet underlay, employs about 40 people.

John Fisk and Richard Longman, of PWC, were appointed administrators on Wednesday.

Flames engulfed the company's factory in Montgomery Cres, Upper Hutt, on January 26.
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Flames engulfed the company's factory in Montgomery Cres, Upper Hutt, on January 26.

The company will continue to trade while Fisk and Longman assess the business to see if it can be saved.

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Fisk said Acma Industries director made the "difficult decision" to put the company into voluntary administration as a result of ongoing cash flow pressure.

"The company has been in a loss making position for some time, and a restructuring of the operations of the company is required to return the company to profitability.

"The cash flow pressures on the company were compounded following a fire at the company premises in January."

The large fire engulfed the Acma Industries carpet underlay factory. 

At the time of the fire, Acma Industries chief executive John Bowmar said the factory, which he did not own, would probably have to be rebuilt completely.

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The building, in Montgomery Cres, was Bowmar's father's last project before he died on New Year's Day.

Alan Bowmar was described as one of Upper Hutt's most loyal, successful, and respected businessmen.

He started the business with partners George Peters and Eric Evans in 1978, and John Bowmar joined the business in 1995.

Acma was the first Upper Hutt company to be inducted into the Wellington Region Business Hall of Fame in 2015.

 - Stuff

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