{"id":6888,"date":"2025-07-29T07:46:46","date_gmt":"2025-07-29T07:46:46","guid":{"rendered":"https:\/\/cita.co.uk\/news\/?p=6888"},"modified":"2025-07-29T07:46:46","modified_gmt":"2025-07-29T07:46:46","slug":"forterra-to-shut-down-two-divisions","status":"publish","type":"post","link":"https:\/\/cita.co.uk\/news\/forterra-to-shut-down-two-divisions\/","title":{"rendered":"Forterra to shut down two divisions"},"content":{"rendered":"

Forterra is\u00a0 closing down its Formpave block paving and the Bison Bespoke precast businesses<\/span>.<\/p>\n

The materials giant said the move will cost \u00a34m and allow it to focus on core operations.<\/p>\n

Formpave manufactures and sells concrete block paving, with 2024 full year revenue of \u00a35.9m. The business broke even last year and is expected to be loss making this year. <\/span><\/p>\n

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The factory now requires a significant level of capital investment to remain operational which has forced the move.<\/span><\/p>\n

Bison Bespoke precast generated revenue of \u00a39.7m in 2024 but has failed to make money for a number of years.<\/span><\/p>\n

The closures were confirmed in Forterra’s latest half year results which showed pre-tax profits dipped for \u00a39.9m for the six months to June 30 2025 from \u00a312.8m last time on turnover up to \u00a3195.1m from \u00a3162.1m.<\/p>\n

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Brick sales were up 14% driven by recovering housing demand and price increases began to stick.<\/p>\n

Neil Ash, Chief Executive Officer, said: <\/span>“We saw a strong uplift in results in the period, supported by improved demand from the volume housebuilding sector, with despatches significantly ahead of the prior year. This result, coupled with our expectations for the second half, gives us confidence to modestly increase our adjusted EBITDA<\/span> expectations for the full year.<\/span><\/p>\n

\u00a0<\/span>“We continue to execute our strategy with good progress being made at Wilnecote, with the kiln now lit; at Accrington, with our initial range of brick slips expected to be launched shortly; and at Desford, with both kilns to operate simultaneously for the first time in H2. <\/span><\/p>\n

“We are also currently consulting on our strategic proposals to exit our non-core businesses of Formpave and Bison Bespoke, both of which will be margin and cash flow accretive.<\/span><\/p>\n

\u00a0<\/span>“Looking beyond the current financial year, the Board remains confident that its recent investments in new production capacity leave the Group well placed to benefit from the continuing recovery of our key markets.”<\/span><\/p>\n

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from Construction Enquirer https:\/\/ift.tt\/7cKeJVp<\/p>\n","protected":false},"excerpt":{"rendered":"

Forterra is\u00a0 closing down its Formpave block paving and the Bison Bespoke precast businesses. The materials giant said the move will cost \u00a34m and allow it to focus on core operations. Formpave manufactures and sells concrete block paving, with 2024 full year revenue of \u00a35.9m. The business broke even last year and is expected to […]<\/p>\n","protected":false},"author":1,"featured_media":149,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[9],"class_list":["post-6888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-construction-enquirer"],"_links":{"self":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/6888","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/comments?post=6888"}],"version-history":[{"count":1,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/6888\/revisions"}],"predecessor-version":[{"id":6889,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/6888\/revisions\/6889"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media\/146"}],"wp:attachment":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media?parent=6888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/categories?post=6888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/tags?post=6888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}