Link maker

“Robust” trading and new CEO for Forterra

Forterra revealed that Neil Ash will become Chief Executive Designate on April 3, 2023, following the announcement of Stephen Harrison’s resignation as CEO during the first half of 2023.

Neil has nearly three decades of experience in the building materials industry and an impressive track record of performance improvement and growth. Currently at Etex, the Belgian manufacturer of lightweight building materials, he leads the Building Performance division, which represents a turnover of 2 billion euros. During his time at Etex, Neil oversaw major capital projects, major acquisitions and developed his business approach which resulted in strong revenue growth.

His experience includes 15 years with Lafarge, where he held numerous positions, including Vice President of International Business Development and Sales and Commercial Director UK & Ireland of Lafarge Plasterboard.

Justin Atkinson, President, said: “We are very pleased to appoint Neil as our next CEO. His business leadership and in-depth knowledge of the building materials industry will be invaluable to Forterra in the next stages of our development and the Board of Directors looks forward to working with him.

“The Board and I are grateful to Stephen Harrison for his significant contribution to the company during his tenure as CEO. We wish him the best for the future after his departure from Forterra in the second quarter of 2023.”

The news comes as Forterra provides an update for the ten-month period ending October 31, 2022, during which trading “remained robust” with year-to-date sales volumes in line with those from last year. The company says this reflects ongoing production capacity constraints and record inventory levels.

The Group’s turnover over the period was 23% higher than that of the previous year, thanks to the increase in selling prices. Annual results should be in line with management’s expectations.

Stephen Harrison, CEO, said: “Trading remains robust although we are mindful of the impact of recent financial market instability and the reported negative impact this is currently having on the housing market.

“The group enters this uncertain period from a position of strength with a strong balance sheet with low debt levels and high levels of cash generation. Inventories remain at record levels and despite the current uncertainties we remain well placed to mitigate the effects of a slowdown in demand by replacing imported bricks with locally produced products.