Blue Circle takes axe to 1,300 jobs
Tuesday 27 February 1996
The company, which warned last December that a major review of poorly performing heating operations would mean redundancies, said further job losses were likely later this year.
In the UK, 240 jobs will go at Blue Circle's boiler plant in Warwick, which is being transferred to Padiham, Lancashire, in the summer. And 110 will be lost through the closure of a domestic radiator plant in Hull and work transferred to Gateshead by the end of the year.
The remaining redundancies are at the Rastede boiler manufacturing operation in Germany, where about 210 cuts are being made. And about 200 are going from French operations, with others in Sweden.
Blue Circle said a further 400-500 jobs in Europe are likely to be cut this year but could not give details about which countries will be affected.
The company said in December that it was seeking approval from French and German regulators before announcing the cuts, and social plans to soften the blow have been sent to government authorities. A provision of about pounds 55m to cover the cost of restructuring is likely to be made in the 1995 results.
A sharp decline in construction business in the UK and mainland Europe have cast a cloud over Blue Circle profits. A large part of the company's turnover comes from people installing new heating systems when moving house. The cement and concrete businesses are said to be doing better, particularly in the US.
The shares have recently picked up following Blue Circle's application for planning permission for its 400-acre site at Ebbsfleet Valley, Kent. The company hopes the site will be turned into a commercial and leisure complex, and earlier this month there were suggestions Donald Trump might be interested in building casinos on the land.
Liam Neeson's Downton dreams
Thriller is set in the secret world of British espionage
Bomber jacket worn by Mary Berry sells out within an hour
- 2 Scottish independence: What you shouldn't tweet about if you want to avoid jail today
- 3 Scottish independence: Five reasons Salmond is secretly hoping for a 'No' vote
- 4 Isis plan to 'behead random member of the public' in Sydney thwarted by Australian police
- 5 Archbishop of Canterbury admits doubts about existence of God
Scottish independence referendum live: Clackmannanshire blazes the trail as 54% vote No while Yes trails with 46%
Scottish independence: Final opinion polls show undecided voters could swing result either way
Isis plan to 'behead random member of the public' in Sydney thwarted by Australian police
Scottish independence: Andy Murray backs Yes campaign in eleventh hour decision
Hitler’s former food taster reveals the horrors of the Wolf’s Lair
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
Scottish independence referendum: A nation divided against itself
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Russia freezes Ukraine into submission: Kiev admits country doesn't have enough fuel for winter
Scottish independence: The Queen breaks silence on referendum debate – as think tank warns of £14bn black hole if Scotland votes Yes
Portuguese academic says British are 'filthy, violent and drunk'
iJobs Money & Business
£320 - £330 per day: Ashdown Group: The Ashdown Group have been engaged by a l...
To £75,000 + Pension + Benefits + Bonus: Saxton Leigh: My client is looking f...
To £85,000 + banking benefits: Saxton Leigh: You will be expected to carry out...
Up to £90,000 + benefits: Saxton Leigh: Credit Risk Audit Manager required to ...