Qualtrace Solutions closes
Cork company Qualtrace Solutions has closed down with a members' voluntary liquidation. A meeting of creditors of the company is to be held on June 17 in Cork.
Qualtrace specialized in designing and implementing quality control and process manufacturing solutions for the dairy, food, pharmaceutical and health are industries.
All its systems included a guarantee of full traceability from raw material intake to dispatch. Customers included United Milk, Bantry Bay Seafoods, Glaniba and Carbury Milk Products.
The company had customers in Ireland, the UK and the USA and in December 2001 signed an Australian channel partnership. Established in 1986 Qualtrace's founder and CEO was Donal Deasy. It employed around 40 people.
In February, Qualtrace received IR£2m (€2.53m) form ICC Venture Capital, arranged by Davy Stockbrokers.
At the same time it received IR£1m (€1.2m) from Enterprise Ireland. In an earlier funding in 1999 it had received £1.5m (€1.9m) through a combination of venture capital and a Research and Technology Initiative from Enterprise Ireland.
Qualtrace had expected to move into profitability in 2002 but had not been able to obtain funding and so could no longer carry on.
