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08/08/2008
NI Quarries Expect 700 Job Cuts
The repercussions of the housing market slowdown have struck again, with Northern Ireland quarrying firms warning of a substantial loss of jobs in their sector.
The Quarry Products Association has suggested around 700 jobs could go this year as the economic slump hits builders' suppliers.
Almost 300 jobs have already been cut in the quarry sector so far this year.
QPA Regional Director Gordon Best said the current industry climate is the worst his sector has experienced in over 25 years.
Mr Best said: "With no end in sight to the credit crunch and high energy costs, the short to medium future looks grim.
"The stark reality is that in a core, capital intensive industry like ours where you have a rapidly declining customer base and sales, together with rapidly increasing raw material and energy costs, then jobs go and companies go out of business.
"In the past nine months, the industry has experienced a drop in business of over 30% together with an increase in production energy costs of 86% with transport costs increasing by 46%."
Mr Best has called on the Northern Ireland government to "fast track" public infrastructural projects, planned under the Northern Ireland Investment Strategy, to help boost the volume of available work.
Politicians should also approach banking authorities to help protect Ulster firms from insolvency, according to Mr Best.
(PR/JM)
The Quarry Products Association has suggested around 700 jobs could go this year as the economic slump hits builders' suppliers.
Almost 300 jobs have already been cut in the quarry sector so far this year.
QPA Regional Director Gordon Best said the current industry climate is the worst his sector has experienced in over 25 years.
Mr Best said: "With no end in sight to the credit crunch and high energy costs, the short to medium future looks grim.
"The stark reality is that in a core, capital intensive industry like ours where you have a rapidly declining customer base and sales, together with rapidly increasing raw material and energy costs, then jobs go and companies go out of business.
"In the past nine months, the industry has experienced a drop in business of over 30% together with an increase in production energy costs of 86% with transport costs increasing by 46%."
Mr Best has called on the Northern Ireland government to "fast track" public infrastructural projects, planned under the Northern Ireland Investment Strategy, to help boost the volume of available work.
Politicians should also approach banking authorities to help protect Ulster firms from insolvency, according to Mr Best.
(PR/JM)
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