WOOTTON Bassett company Optical Micro Devices has been hit by the global downturn in the telecommunications sector.
Just a year after its £15 million purpose-built facility was officially opened by The Princess Royal, the firm has called in administrators and is seeking a major investor.
OMD, which employs about 40 specialist technicians, was formed in September 1999 as a start-up business manufacturing specialist products for the optical communications industry.
The company moved to its present corporate headquarters in Wootton Bassett at the beginning of last year.
Richard Hill and Peter Rilett of KPMG in Bristol have been appointed joint administrators.
Mr Hill, corporate recovery partner at KPMG, said: "Unfortunately, the company has suffered from the global slow-down in the telecommunications industry.
"This has meant that sales have been slower than expected.
"The business uses state-of-the-art semi-conductor technology and has excellent prospects for an investor who is prepared to take a long term view.
"It is hoped that a buyer can be found for the business and assets in the next four to six weeks and we are currently working to identify potential purchasers for the business."
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