Page 6 - Fake Ruby CS

But 2004 saw the construction industry falter forcing Wrekin to undertake an
ambitious restructuring strategy under the control of a new managing director,
John Worthington who restructured the business into three new divisions:

Wrekin Construction, which included civil engineering, regeneration
and design and build;
Wrekin Utilities, which involved work with water companies, gas
supplies and telecommunications; and
Wrekin Rail

By September 2006, the Wrekin Group announced it had turned a £1.7 million
loss the previous year into a £1.7 million profit.

Mr Worthington said prospects for the firm were “very encouraging” with a
workload totalling £120 million secured to March 31 2007 against a budget of
£138 million.

Further evidence that the company was back on its feet was a significant
investment in its own headquarters at Lamledge Lane, Shifnal where it opened a
new, purpose-designed and built training centre.

Company founder Tom Frain was at the official opening and said he was proud
of the new facility which would help tackle the problem of a shortage of skilled
workers in the industry.

His son, Dr Simon Frain, then chairman, said the centre would ensure the
Wrekin workforce was training to the highest standards.

But less than a month later, the company said it was being forced to cut jobs to
preserve its “long-term future”. More than 25 posts were axed, mostly office
staff at Shifnal.

By early 2007, the Frains were looking for a buyer. From a turnover of £100m
in the financial year to March 31 2007, Wrekin suffered a pre-tax loss of £9m.