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Severfield Rowen boosts order book 10% with Heathrow deal

29 Apr 10 Severfield Rowen has reported a 10% increase in its forward order book despite tough trading conditions in the steel construction market.

Severfield Rowen has reported a 10% increase in its forward order book despite tough trading conditions in the steel construction market.

In an interim management statement, the steel contractor said its "trading performance for 2010 to date remains in line with management's expectations" although "demand and pricing levels in the UK and Ireland are poor". It predicted that "2010 will be the trough year for the industry".

Severfield Rowen's order book currently stands at £241m, up from £219 million on 23 March 2010.

New contracts include the award of structural steelwork for the new Terminal 2 building at Heathrow Airport, which will be delivered to site between summer 2010 and spring 2011.

Severfield Rowen added that it was "very aware" of the upward movements in steel prices and "has taken steps to ensure that their impact is minimal".

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MPU

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