{"id":73811,"date":"2020-03-25T09:07:13","date_gmt":"2020-03-25T09:07:13","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=73811"},"modified":"2020-03-25T09:07:13","modified_gmt":"2020-03-25T09:07:13","slug":"building-product-manufacturers-suspend","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/plant-equipment-supplies-news\/building-product-manufacturers-suspend\/73811\/","title":{"rendered":"Building products manufacturers suspend production"},"content":{"rendered":"

Following the UK government\u2019s measures to stay at home, building product manufacturers Michelmersh and Forterra have suspended all deliveries and production<\/h2>\n

In an update in relation to COVID-19, Michelmersh<\/a> has suspended all brick deliveries during the government three-week review period.<\/p>\n

The manufacturer said it would constantly review the situation.<\/p>\n

The group\u2019s brick manufacturing<\/a> plants will be able to quickly return to normal levels of production once restrictions are lifted.<\/p>\n

In its statement, Michelmersh revealed that whilst there is much uncertainty, it was in a strong financial position with substantial cash and good covenant headroom.<\/p>\n

As such, the board believes it is well protected to see out a period stretching beyond what the UK government is currently indicating for the COVID-19 pandemic<\/a>.<\/p>\n

The board has deferred any dividend payments until it is confident that normal business has resumed across its sector.<\/p>\n

Martin Warner, chairman of Michelmersh Brick Holdings, said: \u201cThese are unprecedented times and the safety of our people is paramount.<\/p>\n

\u201cWe would like to reassure our customers and stakeholders that we are continuously monitoring the situation.<\/p>\n

\u201cThese restrictions are under constant review and we will be sure to re-open our production as soon as it is safe to do so and resume our service as Britain’s Brick Specialists.\u201d<\/p>\n

Forterra production break<\/h3>\n

Building products manufacturer, Forterra<\/a>, has also announced temporary production breaks at many of its factories starting from the end of this month and including the bank holiday periods.<\/p>\n

In a statement, chief executive, Stephen Harrison, said: \u201cThis decision has not been taken lightly, however in light of the current economic uncertainty it is felt to be the best available option today.<\/p>\n

\u201cWe are coming out of the winter months with high levels of inventory which is more than sufficient to cover these production breaks so I am confident your orders can be fulfilled with a high level of service.<\/p>\n

\u201cThe reason for these production breaks is to avoid further inventory build which would have a very negative impact on our cash position.<\/p>\n

\u201cLooking forward, I need to be sure that we have sufficient cash to continue to pay our employees and suppliers so reducing the risk of excess inventory build is essential.\u201d<\/p>\n

He concluded: \u201cMay I take this opportunity to thank you for your business and support.<\/p>\n

\u201cWe will continue to communicate with you as the situation changes but please do not hesitate to get in touch should you require any further information.\u201d<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

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