The supplies big can be chopping manufacturing at its Aircrete blocks enterprise as demand from the housing market continues to deteriorate.
The strikes have been detailed in a buying and selling replace which warned that full 12 months earnings would now be beneath market expectations.
Forterra mentioned: “Session is presently underway on the mothballing of an extra brick manufacturing unit at Claughton in Lancashire together with cuts to manufacturing in our Aircrete enterprise.
“The market weak point seen in latest months, coupled with the lead time related to effectively lowering manufacturing, will result in our stock construct in 2023 being increased than beforehand anticipated.
“Wanting forward we count on to handle our operations on the belief that 2024 demand shall be at an identical degree to 2023 and, accordingly we are going to look to align manufacturing output with this degree of gross sales, thereby limiting additional stock progress.
“Rising political concentrate on growing housing provide forward of a normal election reinforces the Board’s confidence within the long-term business fundamentals and the Board stays assured that the Group stays effectively positioned to learn when market demand recovers.”
The brick big mothballed its Howley Park manufacturing unit earlier this 12 months in a £10m cost-cutting drive because the residential market slumped.
