The ailing global world construction market has inflicted its demise cross-industrially upon manufacturing with near-devastating repercussions for the world’s biggest brick maker, Wienerberger.
With profits down 31 per cent as a result of troubled conditions in America, Germany and the UK, Devon and Surrey-based factories are included in an initial 25-strong casualty list which the Austrian firm will either close or moth-ball over the next year-and-a-half. Around 80 jobs will be lost from the pair.
And the buck isn’t likely to stop there. “Wienerberger expects the current climate of rising interest rates, higher inflation and credit shortages to trigger further weakness on European markets during the remainder of this year,” it said.
More British factories are expected to go unless the construction trade picks up here.