AEA Technology to appoint administrators, suspends trading in shares

Thu Nov 8, 2012 2:56am EST

Nov 8 (Reuters) - Environmental consultancy AEA Technology Group said it plans to begin an administration process for its companies in England and Wales after failing to sort out its debt issues.

The company, which advises the U.S. Department of Energy, the British government and companies on climate change and energy issues, said it was unable to assess its financial position and asked for its shares to be suspended from trading.

AEA also said it would not begin insolvency proceedings for its U.S.-based businesses which will trade normally.

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