Warning of jobs axe by quarry firm
Friday 20th February 2009, 2:25PM GMT.
Bayston Hill Quarry-owner Tarmac today revealed a 52 per cent drop in profits as its parent company Anglo American announced it could shed up to 19,000 jobs.
The mining giant reported a 29 per cent slide in profits and said the job cuts were necessary as it looks to cut costs in the face of weaker global demand.
The biggest impact of the cuts in the UK is likely to be felt at Wolverhampton-based aggregates and asphalt firm Tarmac, which saw its profits drop to £159.4 million following a 20 per cent decline in business in the second half of 2008.
Tarmac owns Bayston Hill Quarry, one of the top four sources in England of high quality stone and one of the UK’s largest specialist producers of high specification aggregates, which are used in road surfacing.
It is not known whether the announcement will affect jobs in Shrewsbury, where the quarry is understood to employ about 50.
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