{"id":537194,"date":"2026-01-29T16:42:38","date_gmt":"2026-01-29T16:42:38","guid":{"rendered":"https:\/\/www.constructionnews.co.uk\/?p=537194"},"modified":"2026-01-29T18:42:44","modified_gmt":"2026-01-29T18:42:44","slug":"severfield-axes-non-core-modular-arm-after-strategic-review","status":"publish","type":"post","link":"https:\/\/www.constructionnews.co.uk\/tech\/offsite-mmc\/severfield-axes-non-core-modular-arm-after-strategic-review-29-01-2026\/","title":{"rendered":"Severfield axes \u2018non-core\u2019 modular arm after strategic review"},"content":{"rendered":"

Steel giant Severfield has discontinued its Modular Solutions business after concluding the division was \u201cnon-core\u201d to the group\u2019s future strategy.<\/p>\n

The decision followed a strategic review of markets and operations led by new chief executive Paul McNerney, who joined the firm in November<\/a>.<\/p>\n

In a statement to the London Stock Exchange today (29 January), the company said: \u201cThe board has concluded that the Modular Solutions business represents a sub-scale, non-core activity of the group.\u201d<\/p>\n

In the year to 29 March 2025, the Modular Solutions division generated \u00a324.2m in revenue \u2013 5 per cent of the group\u2019s \u00a3450.9m turnover<\/a> \u2013 and reported \u00a3400,000 in underlying pre-tax profit.<\/p>\n

It specialised in designing and manufacturing modular steel components and frames for the construction industry.<\/p>\n

But its performance worsened in the current financial year amid tougher trading conditions across the modular sector, Severfield said.<\/p>\n

Modular firm failures since last April include Jans Offsite Solutions, Elements (Europe), Kingston Modular Systems and, most notably, Merit<\/a> in November 2025.<\/p>\n

The closure of Severfield Modular Solutions does not include Construction Metal Forming, a cold-rolled steel joint venture with South Wales-based CMF, which will continue to operate independently.<\/p>\n

The group\u2019s core business remains focused on structural steelwork, where it reported an order book of \u00a3479m as of 1 January 2026.<\/p>\n

Severfield said the shutdown would not affect forecasts for underlying profit or net debt this year and the modular unit would be reported as a discontinued operation.<\/p>\n

The firm said it was \u201cworking constructively with all stakeholders\u201d and would seek to limit the impact on staff through \u201cappropriate consultation, redeployment and support processes\u201d.<\/p>\n

McNerney said: \u201cThe decision announced today follows careful consideration and is intended to support the long-term strength and sustainability of the group.\u201d<\/p>\n

He added that the move marked \u201can important early step in reshaping our strategy\u201d and confirmed a broader update would be provided later in 2026.<\/p>\n

Severfield was ranked as the top steel contractor<\/a> in the latest CN Specialists Index.<\/p>\n

But its interim results, released last month<\/a>, showed a \u00a37.6m pre-tax loss and an 18 per cent fall in turnover for the six months to 27 September 2025 compared with the same period in 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"

Steel giant Severfield has discontinued its Modular Solutions business after concluding the division was \u201cnon-core\u201d to the group\u2019s future strategy. The decision followed a strategic review of markets and operations led by new chief executive Paul McNerney, who joined the firm in November. In a statement to the London Stock Exchange today (29 January), the …<\/p>\n","protected":false},"author":135716,"featured_media":453084,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[39315],"tags":[],"class_list":["post-537194","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-offsite-mmc"],"yoast_head":"\nSeverfield axes \u2018non-core\u2019 modular arm after strategic review | Construction News<\/title>\n<meta name=\"description\" content=\"Steel giant Severfield has discontinued its Modular Solutions business after concluding the division was \u201cnon-core\u201d to the group\u2019s future strategy. 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