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British structural steel manufacturer Billington Holdings has announced a restructuring of its steel business, planning to close its factory in Bristol and consolidate its two facilities in Barnsley into a single production site.
The company previously issued a profit warning: for the six months ending June 30, 2025, revenue is expected to decrease by approximately 28% to £42 million, primarily due to delays in the execution of three large contracts, resulting in a two-thirds decline in pre-tax profit to £1.7 million, 18RK075 oriented electrical steel.
Billington disclosed in a statement to the London Stock Exchange: "If the restructuring is completed, the group will close its Yate factory in Bristol and consolidate its structural steel business into its Wombwell and Shafton facilities in Barnsley."
The announcement stated that the company's board of directors will continue to review the group's operational structure to ensure its alignment with current and future market conditions. 18RK075 oriented electrical steel, Following the integration, the company will gain greater operational flexibility to better match market demands, while simultaneously reducing management costs and achieving significant improvements in cost and operational efficiency.
Currently, Billington has initiated a consultation process with employees at the Yate factory, and a final decision on the factory's future will be made after this process is complete. 18RK075 oriented electrical steel, The company stated that it will announce further developments at the appropriate time.
