Lister Petter Reportedly Enters Administration
Venerable U.K. diesel engine manufacturer Lister Petter has gone into administration, according to a report in the South Cotswolds Gazette newspaper.
The publication's report said that CBA Insolvency Practitioners has been brought in as administrator that will seek options to save the business before it goes into liquidation. The company has not commented on the reports.
Lister Petter, based in Dursley, England, has roots going back more than 140 years to 1867 when Robert Ashton Lister founded the R A Lister company. In 1986, R A Lister and Petters Ltd. merged to form Lister Petter. At its peak, it had more than 5000 employees and operated factories, distribution, warehouse hubs and customers in more than 160 countries.
The company makes engines with power outputs from 2.1 to 258 kW, generator sets from 4.6 to 248 kVA, pumps for irrigation, lighting towers and engine driven welders. Applications served include construction, agriculture and marine.
This is not the first time the company has sought administrative relief. In 2003, Lister Petter appointed administrators to restructure the company’s finances after delays in funding arrangements from banks and creditors. It was sold to its current owners in 2004.