Ballast plc wish to make clear that the Press Release issued on Tuesday 2nd July has been misinterpreted as a closure programme for the whole of the UK business. This is clearly not the case.
Ballast operates eleven business units in the UK. Two of those units, both situated in the south, have performed badly and actions are underway to rectify the situation.
The remaining construction businesses and the businesses operating within the Developments and the Services Division, which includes the very substantial PFI activities, are all profitable and are developing in line with the CompanyÂ's strategy.
Ballast has a considerable number of business partners with whom they are involved in long-term strategic alliances and partnering arrangements. The Company will continue to develop these arrangements in the UK market on the back of its substantial track record.
(source: Ballast Plc)