Down and out in Plymouth and London

Article Abstract:

The UK construction industry faces reductions in public spending on building projects such as roads, and overcapacity in the industry. Rationalization is needed so mergers and acquisitions are likely as well as withdrawals from less profitable activities. Construction output dropped by 1% in 2nd qtr 1995, and orders fell by 10% in this period compared with the previous year. Margins are squeezed and overseas markets are not an easy escape route.

United Kingdom, Economic aspects

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Tarmac: forced sale going badly

Article Abstract:

UK construction concern Tarmac is seeking to sell its housing division. The company may accept a 200 million pounds sterling management buyout bid, headed by John Lovering, previously chief operating officer at Tarmac. He is reportedly seeking too acquire 75% of the housing division, which Tarmac aims to sell as a whole. The housing division ranks fourth among UK house builders, and completions are more than 6,000 homes annually.

Residential Buildings, Residential Building Construction, Residential construction

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Troubled Tarmac bails out of the housing market

Article Abstract:

Construction firm Tarmac PLC has announced plans to sell its housebuilding division which has produced erratic earnings. The company has already raised 70 million pounds sterling from the flotation of Ruberoid, and it sold off its brick division in 1994. The company is not generating enough cash to keep all its businesses going. The housebuilding business is estimated to be worth around 400 million pounds sterling annually.

Housing developers

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