Steel production is now running a third lower than in 2008, and firms which have closed or gone into administration recently include .
An interim statement from Severfield-Rowen said it 鈥渞emains cautious about the market outlook in the UK and continues to plan on the basis of subdued demand and relatively tight pricing. In recent weeks two more competitors have ceased trading, which supports the company's view that supply/demand rebalancing is continuing鈥�.
The firm's UK order book remains steady at 拢230 million, and it is confident of achieving its targets in the UK for 2012.
Abroad, prospects for its India business JSW Severfield Structures, are 鈥渧ery positive鈥�.
鈥淥ur value offering, of design enhancement, volume manufacturing, product accuracy and rapid site erection, is gaining increasing traction with clients, which has translated into a growing order book currently standing at 拢61 million,鈥� the firm said.
Summarising, Severfield said it 鈥渞emains on track to deliver a result for the full year that is in line with management's expectations.
鈥淟ooking further ahead, while the UK market will be tough for the next few years, the company expects to consolidate further its position as market leader.鈥�
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