ROYAIR Ltd, the Honiton-based supplier of air conditioning components, has now come out of administration and been handed back to director Peter
Reid and Royair's managment after reaching a Company Voluntary Arrangement (CVA) with its creditors.
After some early redundancies, management and administrators have succeeded in saving more than 25 jobs.
Established in 1967, Royair is a leading producer of grilles, louvres and diffusers. Its move into administration was blamed on a combination of cheap imports, low profit margins and cash-flow problems.