150 jobs threatened at door firm
http://news.bbc.co.uk/go/rss/-/1/hi/wales/south_east/7098030.stm Version 0 of 1. More than 150 jobs in south Wales could be lost under plans by a US door manufacturer to close its UK business. Therma-Tru UK, which operates at a 52,000 sq ft plant at Parc Nantgarw near Caerphilly, has begun a 90-day consultation period. If the closure goes ahead, 85 factory workers and 69 other staff could lose their jobs. The company said it would work closely with local agencies to help staff find new employment. It blamed factors outside its control for the possible closure, including the weak US housing market and problems of over-supply in the industry. Even with rigorous cost controls, operational improvements, and exiting money-losing channels, the business continues to deliver negative rates of return Carl Hedlund, Therma-Tru President Carl Hedlund said: "After a comprehensive review of Therma-Tru's UK business and overall market conditions, it is with deep regret that we announce our intent to close the operation. "While we have made considerable progress with rigorous cost-cutting and operational improvements over the past year, the outlook for the long-term viability of the business remains poor." He added: "Even with rigorous cost controls, operational improvements, and exiting money-losing channels, the business continues to deliver negative rates of return." Founded in the US in 1962, Therma-Tru was established in the UK when it purchased Sentinel Doors Ltd in 2004. Later that year the company doubled its workforce with the creation of 150 jobs, as part of a £7.5m investment. The expansion was backed by the Welsh Assembly Government and the Welsh Development Agency. |