THE 150-STRONG workforce at administration-hit Dundee firm Texol Technical Solutions were told yesterday all may not be lost.

Joint administrators Neil Armour and Sean Branston addressed staff at the plant and it is understood efforts are being made to assess the future viability of the business.

Despite being profitable in 2007, the firm slid into administration on Thursday morning after expected orders from a key customer— believed to be NCR— failed to materialise.

Texol managing director Brian Frame said on Thursday it was inevitable significant numbers of employees would lose their jobs but the mood surrounding the plant was a little more upbeat yesterday.

It appears the administrators believe the business, or certain elements of it, can be saved and it is hoped any sale will offset the number of jobs under threat.

Dundee West MP Jim McGovern said he had spoken to the administrators and been told a further meeting with staff would be held on Monday where employees would be presented with more concrete news about their future.

Mr McGovern said, “The administrators are going to be working hard over the weekend to see what exactly can be saved but they have indicated to me there are grounds for optimism. Basically the company is insolvent but they believe the business is not and can be saved.”

On Monday, the administrators will address the workforce at noon and will be a bit more specific about their proposed rescue plan.

“My thoughts are with the people who have a whole weekend, at the very least, of uncertainty ahead of them. But the administrators are confident they will be able to give people a bit more of a definitive statement on their future on Monday.”

Unite union official Gillian McKay, who represents the Texol workforce, said she would welcome the business being sold but said she was cautious about the ultimate outcome.

She said, “Administrators will spend this weekend going through the company with a fine tooth comb and we expect further updates on Monday. That (a sale) would obviously be the most desirable outcome to secure future employment but obviously the administrators were only appointed at the tail end of last night.

“It is rather early for them to say what state the business is in as they can only go by information given to them at this time by Mr Frame.”

A Scottish Government spokesman said, “It is regrettable Texol have had to call in the administrators and it is hoped new markets or owners can be found to sustain the viable parts of the business.

“In the event of job losses, Partnership Action for Continuing Employment (PACE) support will be available to those affected to help them access other employment opportunities.

“Scottish Enterprise is working with the Scottish Manufacturing Advisory Service (SMAS) and partners to review existing manufacturing facilities in the region to see what additional work might be done to support their future.

“Scottish Enterprise is working with companies to support their diversification into higher value manufacturing and invest more in R&D, in addition to supporting efficiency and productivity saving programmes.”

He said enterprise minister Jim Mather had agreed to Dundee City Council economic development convener Joe Morrow’s request for a meeting about job losses in the city.

“The minister would be happy to attend a meeting with any of the interested parties to discuss what further the government can do to help in this case in particular, or the implications for Dundee and the surrounding area,” said the spokesman.