Breedon set to reopen sites across region
Construction materials group Breedon is planning to start reopening its sites during the coming weeks.
It comes as the firm, which has operations across Shropshire and the West Midlands, said it has been encouraged by recent announcements in the construction sector.
The firm closed the majority of its sites on March 26 in response to the coronavirus crisis – although a small number remained open. More than 80 per cent of the firm’s UK workforce was furloughed.
Breedon said it has also deferred this year’s pay rises across the group, withheld bonus schemes and deferred performance share plan awards to the leadership team.
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A company statement said: “The fact that a number of contractors, housebuilders and merchants have announced that they intend to resume their operations, albeit in a measured way and within strict safety parameters, is clearly good news for our industry.
"Where demand from our customers justifies it, we will seek to support them, provided we can do so without compromising the safety of our colleagues, our customers, and the communities in which we operate, which remains our overriding priority.
“It is still too early to predict with any certainty how quickly our markets will recover, and we therefore remain unable to provide market guidance at this time.
"However, we reiterate the points made in our announcement on March 26, prior to which we were trading broadly in line with our expectations.
"We have a fundamentally robust and diversified business with traditionally strong cashflow, and remain confident in our ability to prosper in the long term. The pending acquisition of assets from CEMEX in the UK, which has been delayed due to the difficulties caused by Covid-19, will further strengthen our position.”
