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New-build and domestic home-front blues

Submitted by: MikeC (Admin) on 20-Aug-08 09:57:12 AM

Not the first brick manufacturer to shut plants in the UK this year either:

The world's biggest brick-maker, Wienerberger, is mothballing two British factories as part of 25 closures across Europe, after profits fell 31pc during the property slowdown.

The Austrian company blamed the construction slump in the UK, America and Germany for "disappointing developments", which will lead to the loss of 80 jobs at plants in Devon and Surrey.

Brick-maker Wienerberger shuts UK plants - Telegraph

The thing about closures such as this is that when/if the upswing comes, all this lost capacity cannot just be switched back on.


And, of course, Rightmove reported further depressing numbers earlier this week:

  • another historical low in new sellers - fewer HIPs
  • asking prices dropping - good!
  • unsold stock sat on estate agent shelves up - not so good

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