The Black Country Innovative Manufacturing Organisation (BCIMO) has been sold to Dudley Council by the administrators, Deviesh Raikundalia and οΏΌTyrone Courtman of RSM UK Restructuring Advisory LLP.
Based in Dudley, West Midlands, BCIMO is a not-for-profit Research and Technology Organisation (RTO), which operates the Very Light Rail National Innovation Centre (VLRNIC) and accommodates a number of firms involved in innovation and technology.
According to the liquidators, this transaction has safeguarded the future of the VLRNIC, preserving continuity for its occupiers, and laid the foundation for renewed investment in transport innovation.
Councillor Steve Clark, Cabinet Member for Resources at Dudley Council, said: βThe council has previously provided financial support to BCIMO and so, when the board of directors put the organisation into administration, we made the decision to put in a bid for the business and assets to protect this investment.
βThe bid was successful and as the owner of the site, we will now be receiving income from the existing tenants, while looking for an operator to take on the responsibility of operating the site.
βThis was an invest to save decision, which will generate income for the council now and into the future, champion local innovation and support the creation of high value employment opportunities in our borough.β
How the sale will affect operation of the test track, as well as its impact on the various businesses who are BCIMO tenants, remains to be seen.
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