Tuesday, 23 October 2012

AI selling the 'family silver'

You have to feel some sympathy for Aggregate Industries' staff at the moment. Not only is their pay being delayed, but now Marston House, the company's 17th century Grade II* listed regional HQ near Frome, is being sold off - for £6mStaff will be relocated to a rather subdued leasehold property nearby.

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Is this another sign that AI is experiencing difficult times, or is Holcim, its Swiss parent, simply asset stripping? Or could it be to finance the fighting fund that AI now realises it will need to secure planning permission for Straitgate, and the cost of building itself a new processing plant away from the European nature conservation designations of Woodbury Common?