Tarmac is set to close its century-old headquarters in Wolverhampton with the loss of up to 500 jobs.
The move was revealed yesterday as PricewaterhouseCoopers, the administrator to Manganese Bronze, separately announced it has cut 156 jobs at the struggling maker of London's black taxis, mostly at its manufacturing site in Coventry.
Tarmac, which supplies ready-mixed concrete and aggregates to the construction industry, is heading into a joint venture with the French group Lafarge. The plan is to have the joint HQ at Lafarge's site in Solihull, and it has started consultations with staff.
Meanwhile, PwC said remaining staff at Manganese's Coventry site would focus on finding a solution to the steering fault which has hit recent models.