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Merger warning

FURTHER CONSOLIDATION of the UK construction sector is on the cards, according to Construction minister Nick Raynsford.

Speaking to NCE at the Labour party conference this week, he commented on speculation that leading contractors like Laing and Bovis could be involved in mergers, but warned it could go too far.

'It wouldn't be right to concentrate industry into a very small number of large hands. Medium-sized contractors with reasonable relations with major firms are as satisfactory as a small number of large contractors.'

Raynsford also warned against talking the industry into recession. He pointed out that money released as part of the Comprehensive Spending Review would begin to boost the industry significantly from

April.

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