好色先生TV

Laing O鈥橰ourke has admitted that it has still not signed off its plans to build a second factory specialising in off-site construction.

The firm said last year that it would pump more than 拢100m into a new factory next to its existing one at Steetley in Derbyshire to manufacture homes.

But the contractor said this week the expected cost of the scheme 鈥� which is believed to be around 拢150m - was still 鈥渟ubject to a final investment decision鈥�.

The new Design for Manufacture and Assembly factory has been hailed by the firm as a plant that will 鈥渦se intelligent design, precision engineering and fully automated processes to deliver modular solutions that will revolutionise housebuilding in the UK鈥�.

It has been drawn up with housing in mind and the sector鈥檚 importance to Laing O鈥橰ourke was underlined in a statement released to 好色先生TV where it said its UK business was 鈥渨ell placed for strong growth potential, fuelled by the government鈥檚 renewed focus on infrastructure and new housing鈥�.

The plant is also key to the firm鈥檚 stated intention to focus on modern construction methods which recently saw it re-jig the business into two divisions - with its off-site business, known as Explore Manufacturing, coming under its Asset Businesses division which is headed by managing director Stephen Harley.

But Laing O鈥橰ourke told 好色先生TV that 鈥渁ll investment decisions have been reviewed鈥� as part of a strategic review which it completed earlier this year.

It added: 鈥淟aing O鈥橰ourke is committed to an advanced manufacturing agenda at the heart of its current and future business strategy. The Group has invested significantly in its Explore Industrial Park and planning for a new Advanced Manufacturing Facility continues to progress, subject to a final investment decision.鈥�

The firm said the strategic review had been 鈥減artially triggered鈥� by a number of approaches for its Australian business which has now been put up for sale.

Chief executive Ray O鈥橰ourke said proceeds from the disposal - with the firm declining to confirm reports the business will fetch close to 拢400m - will be ploughed back into the business 鈥渁nd enable us to progress our Advanced Manufacturing agenda鈥�.

The decision to sell the 拢1.5bn turnover Australian arm brings to an end to a dozen years working in the country and the Pacific Rim.

The division was set up in 2004 but expanded rapidly three years later after Laing O鈥橰ourke snapped up Barclay Mowlem from Carillion - after the latter decided to pull out of the region following its takeover of Mowlem the year before.