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11/12/2008
Group Restructuring
There has been a significant deterioration in steel markets since the end of the summer, a fact that is confirmed by announcements of significant cuts in production by the major steel producers. The Board of Barrett Steel has therefore taken the decision to restructure part of the Group's branch network.

With effect from 1 January 2009, this restructuring will create a number of larger regional business units and is designed to both underwrite their profitability yet preserve the operating integrity of the Group in very difficult times.

The new Regional Centres will be as follows:

South East Midlands to incorporate Northampton and Coventry

East Midlands to incorporate Derby and Burton

Eastern Counties to incorporate Hull, Kass, Newark and
Gainsborough

North West to incorporate Preston, Manchester and Chester

Sales forces and warehouse facilities will be maintained at each depot. The reorganisation of these businesses will not lead to the closure of any individual depot save for that in Trafford Park, Manchester where the lease is due to expire in early 2009 and the separate sales office of Gainsborough Steel Services which is being moved to Newark.

The various businesses involved in this exercise are currently undergoing a period of consultation. A total of 60 jobs are likely to be at risk although alternative posts are being sought where possible.

The Group will continue to operate from all its other premises although the reduced levels of trade have made it necessary to declare a number of redundancies at other Group depots.