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Irish merchanting group Grafton Group – is closing its Irish mortar and concrete manufacturer CPI.
The company has been loss-making for some years, with most of its activity had focussed on the housebuilding side.
In a statement, the company said it had made extensive efforts to restore the business to viability through restructuring its activities and reducing its cost base. But it added that despite these measures, there is no near term prospect of returning the business to profitability.
‘The company greatly regrets the necessity to take this action and will consult with the 15 employees on redundancy,’ it added. No details of redundancy terms were revealed in the statement.
CPI also has nine plants in the UK which are not affected will by the closure.
