GOING DOWN: Blue Circle Industries

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The Independent Online
BLUE CIRCLE Industries was the biggest faller in the FT-SE 100 last week. The UK's largest cement company, which was down 7 per cent, said it plans to sell a heating-products division, as it warned business this year will be "challenging".

Brokers savagely downgraded their forecasts for the company.

Blue Circle didn't divulge a price or name a prospective buyer for its heating unit, whose products include Potterton boilers and Myson radiators. It said its business in Asia, a major growth region for cement companies, is "well down" from last year's level.

The company is looking beyond Europe for expansion, and it has shed units to focus on building materials.

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