A South Bank engineering firm has revealed the extent of the losses suffered after walking away from a major project on the Humber.
Engie Fabricom called a “force majeure” on the build-out of the now-stalled Tricoya plant at Saltend at the height of the Covid pandemic. It saw it take a £25.3 million hit “a significant loss being taken for foreseeable losses” on the first-of-its-type wonder construction materials operation.
The company, which has just rebranded to EFAB, having published its accounts for 2020, saw revenues fall 56 per cent from £46.6million to £20.5 million, with a loss of £24.7 million. It followed a £20 million loss in 2019, which followed a £6 million deficit in 2018. Staff numbers had increased from 320 to 413.
