Parkside International Limited confirmed today its subsidiary, Parkside Performance Films, in Darton, Yorkshire, will now be managed by administrators Price Waterhouse Coopers.

Parkside claimed focussing on the Performance Films business since its acquisition from BP in May 2002 placed significant demands on resources. Its multi-million pound investment in equipment failed to improve performance at the plant. And it continued to face disputes over necessary changes to working practices, excessive site costs and escalating raw materials prices.

Parkside’s directors said they would now focus on the businesses of Parkside Flexibles, Normanton, and Parkside Flexibles, Zlotow, Poland. And they highlighted their commitment to designing and producing high quality flexible printed packaging

In light of the takeover Parkside International chief executive Geoffrey Stewart said: “Whilst I am disappointed by this decision, I am certain that it is in the best interests of the Group going forward. By focusing our resources on our Parkside Flexibles businesses, we now find ourselves better positioned to profitably service our customer base than at any time previously, and we look forward to working closely with those customers, our employees and suppliers in delivering real value and satisfaction.”