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Lafarge UK set to mothball quarries
Issue date: September 18th, 2008
As the effects of the credit crunch continue to amplify across the construction products market, Lafarge UK says it will be mothballing quarries, which could lead to further industry job losses.
Following a slump in demand across the quarry products sector, which has led to both Tarmac and Cemex announcing job losses, Lafarge UK told MQR today it was too cutting back on production but that details had yet to be finalised.
The French-owned company said in a statement: “Mothballing of some sites will be necessary, but exactly when and which sites depends on varying local market conditions.
“We may well be bringing forward the closure of some sites which are nearing the end of their natural life, and needless to say we are monitoring each of our operations very closely.”
The group’s interim report at the beginning of August recorded an 11% fall in UK revenues during H1 compared with the same period in 2007. Gypsum, cement, concrete and aggregates fell from €734million (£583million) during the same period in 2007, to €653million (£514million).
These results compare with the other Lafarge Group Western European operations in France and Spain that experienced growth of £55million (€70million) and £12million (€15million) respectively over the same period.
The United States was the only other operation to experience losses with revenues falling from £1,031million (€1,309million) to £780.5million (€991million) over the period.
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