CRH introduces stoppages at plants to clear construction-slump stockpiles →
tribune.ie/business/news/art … ar-constr/
ROLLING work stoppages have been introduced at CRH’s Irish cement plants as the company continues to struggle to clear production stockpiles caused by the slump in the construction sector.
The company has told staff at its plants at Platin, Co Meath, and Castlemungret, Co Limerick, that it plans to introduce a programme of temporary lay-offs, which will last for up to six weeks at a time.
Da Uncle told me last week the cousin is on a 3 day week. He works with CRH down in Cork so it goes further than the two plants mentioned.
I was recently let go by the company. I should of posted it in the the job losses thread. I had been working there for just over two years but no new contracts are been given out.
There has been a lot of redundancies/early retirement in the company the past year, but its drip-drop style prevents it from making the headlines.
irishtimes.com/newspaper/bre … aking6.htm
CRH profit to fall 55% in 2009
irishtimes.com - Last Updated: Tuesday, January 5, 2010, 07:56 - CIARA O’BRIEN
Building materials firm CRH said today profits would fall 55 per cent in 2009 compared with the previous year as the outlook for recovery remained unclear.
Profit before tax for the year will slip to €750 million before asset impairment charges, the firm said.
CRH said that although news on economic developments and financial markets over recent months has been more positive,
trading conditions remain difficult and the timing of any sustained pick-up in developed world construction demand is unclear.
However, the rate of decline in profit before tax eased during the second half of 2009, the company said, as cost cutting measures and more moderate energy-related input costs had an impact. The firm also said its cost savings would be more than previously expected.
CRH ‘unclear’ on building pick-up
Tuesday, 5 January 2010 07:36
Building materials group CRH has said it is expecting to report pre-tax profits of around €750m for 2009, a drop of 55% from 2008.
The figure is broadly in line with expectations.
In a trading statement, the company said that while there had been more positive news in recent months, trading conditions remained difficult in its markets.
‘The timing of any sustained pick-up in developed world construction demand is unclear,’ it said.
reuters.com/article/idUSLDE6 … arketsNews
UPDATE 1-CRH cautious on timing of sustained pick-up
Tue Jan 5, 2010 2:51am EST - By Padraic Halpin
DUBLIN, Jan 5 (Reuters) - Irish building group CRH (CRH.I), the United States’ leading asphalt producer, said
the timing of any sustained pick-up in developed markets this year was unclear despite recent positive news flow.
CRH, which said on Tuesday it would make more cuts this year than previously indicated, gave a more cautious outlook than rivals, saying that while it was well-positioned to respond to evolving demand patterns,
trading conditions remain difficult.
Lafarge (LAFP.PA), the world’s leading cement maker, said in November that recovery would come to developed markets in the second half of 2010. [ID:nL6713710]
**Fellow cement giant Holcim (HOLN.VX) also said late last year that stimulus programmes were set to return North America to growth in the second half of 2010. **[ID:nLA662593]
CRH, which is the No. 3 producer in the United States of aggregates – a category of building materials – also expects to benefit from projects funded by the U.S. government’s $787 billion stimulus.
one of them has to go?
nowhere near the same scale but Condron Concrete in Tullamore has been reduced to a bare skeleton staff.
Makes sense as no one wants concrete, aggregates, slates, precast products, etc… i.e. anything they make.