SPAIN (Notifix).- Fletcher Building announced that it is to consolidate Formica's two manufacturing plants in Spain, with all manufacturing to be undertaken at Formica's

Valencia plant, and the closure of Formica's plant in Bilbao. The decision to rationalize manufacturing from two sites to one follows a review of the company's operations in Spain. Mark Adamson, chief executive of the Laminates & Panels division, said the review process had clearly identified significant overcapacity across its two Spanish plants. "Our volumes in Spain have decreased significantly over the past four years and it is now simply not viable to maintain and support both facilities running considerably below full capacity," he said. "We remain committed to manufacturing in Spain, and by rationalizing our operations this will allow Formica to remain competitive in what is still a very tough economic climate." Formica's Bilbao plant has been operating for 66 years. While negotiations with those affected by this decision are still proceeding, it is expected closure of the plant will take place before the end of the 2012 calendar year.