Laminate firm 'focused' on North East facility

LAMINATE maker Formica says it is focused on its North Shields plant, despite a substantial reduction in its workforce over the past few years.

- TOM KEIGHLEY Business writer

New accounts for Formica Limited, covering 2024, show issues of market decline led to a 20% drop in turnover to £35.7m. Despite the drop, the firm managed to narrow operating losses from nearly £37m to £8.3m.

The numbers follow a period of investment into the Coast Road site which have been designed to reduce costs. That has also meant significant shrinkage in the workforce which had been more than 500 people as recently as 2018, and now stands at 215.