Paradigm Group BV has announced that it has formed a new company undertaking the staff and assets of Paradigm Flow Services, which was put into administration on 28 December 2018.
The company was put into administration due to prevailing poor market conditions that had been compounded by extended delays in getting a key technology adopted by the market.
23 jobs have been saved through a new investment plan that has been committed by Paradigm Group BV and the business has been restructured with a lower cost base and more efficient organisation.
The new company, Paradigm Flow Services Limited is committed to working with customers and key suppliers to minimise any business disruption in delivering its operations. Under a new leadership structure combined with a sizeable investment plan, Paradigm Flow Services Limited is highly confident of its ability to succeed in implementing its unique flow remediation solutions globally to maximise the production of oil, gas and petrochemical products.
Read the article online at: https://www.oilfieldtechnology.com/special-reports/02012019/paradigm-group-bv-saves-23-jobs-following-company-administration/