RMC pledge on German business

CONCRETE maker RMC is biting the bullet on its disastrous German business after twice failing to sell it. The company plans to write-down the assets by £210m and spend £25m on restructuring it.

In a confident trading statement promising profits this year at the top end of expectations, RMC also pledged full details of its plan to slash overcapacity, reduce costs and raise prices at its results in March.

This is expected to include further shutdowns on top of 32 plant closures in the past 18 months.