Severfield-Rowen increases production in India

In an interim management statement issued this morning, the Thirsk-based group said it was moving to three shifts to increase production at JSW Severfield Structures, the joint venture set up in India last year.

It said that after some initial slippage in early contracts, the new venture had a £36m order book and revenues would be on or ahead of schedule in the second half of the year.

In the UK, its order book has remained almost unchanged at £221m and the firm is looking at opportunities in the industrial, transportation, waste-to-energy and commercial office sectors.

The company said: “Notwithstanding these opportunities, the prevailing forecasts for the UK economy and construction sector, lend support to the company’s view that a broad recovery remains distant.

“Severfield-Rowen is maintaining its strong domestic market position and will continue its efforts to optimise UK performance in a very tough market.

“The company’s experience and abilities are now being successfully focused into international markets where opportunity remains strong.”