The Welsh Automotive Forum has announced that the organisation will be dissolved at the end of the financial year.
A statement from chair Michael Evans says:
“Following the announcement by Welsh Government of the closure of Industry Wales, and the consequent withdrawal of core support, the Board of the Welsh Automotive Forum has resolved to dissolve the organisation following the end of the current financial year.
“All options to secure a sustainable alternative operating model have been carefully considered. No viable solution has been identified.
“The Board has therefore concluded that an orderly, solvent wind-down is the most responsible course of action. The Forum will complete its remaining activities and administrative processes before entering formal dissolution. The company will close in a solvent position.”
The Welsh Automotive Forum has more than 130 member companies, including three vehicle manufacturers and a supply chain comprised of multi-national organisations and a SME community, representing more than 10,000 employees and with an estimated turnover of more than £3 billion per annum.
It has delivered a calendar of events which includes a flagship annual networking dinner and Wales’ leading automotive conference, Autolink.
The statement continues:
“For more than 25 years, the Forum has represented and connected the Welsh automotive supply chain, supporting collaboration, supplier development and policy engagement at both Welsh and UK levels.
“The dissolution of the Forum does not reflect a weakening of the sector. Wales remains a highly manufacturing-intensive economy with a strong advanced manufacturing base.”
The news comes days after Technology Connected announced that it is set to cease trading on March 31. It also said that the decision followed an announcement by the Welsh Government confirming the dissolution of Industry Wales.
