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MORE than 70 workers at Stewart Milne Timber Systems factory in Witney are facing redundancy.

The company said the downturn in housebuilding sales had prompted it to start a consultation process, seeking to reduce its 191-strong workforce by more than a third.

Final numbers would be defined during the consultation process, said the company, which opened its Witney factory in 2001, supplying major housebuilders with timber frame kits.

Chief Executive Stewart Milne said: "No one in our sector is immune from the downturn.

"The lack of liquidity and lower consumer confidence has resulted in a decline in sales in the housebuilding sector and, despite our efforts to overcome these challenges, the ongoing market conditions have impacted on us"

Managing director Glenn Allison said: "We have worked hard to overcome the challenges and minimise the impact of market conditions.

"We deeply regret that redundancies may be required, having established such a successful operation over the last eight years.

"We will do everything we can to support those employees affected and all other employees in our business while continuing to provide the highest quality standards of service to our customers."

The company said it remained fully committed to its operation in Witney and Mr Allison said those affected would be offered financial advice, counselling and practical support for both employees and their families.

Only last September, the company was predicting that the Witney operation could double in size in the next three years, as a possible site for a fully fledged housebuilding division by 2010.

At the moment, the frames are taken from Witney to construction sites to be completed on site.

Mr Allison spoke to the Oxford Mail last September after the group unveiled record £42m profits. He said: "We do a lot of research and Oxfordshire has come out as being a key area in terms of demand of housing to which we can address our skills."

The company was also looking to build on its Witney-built Sigma home, the first commercially viable home that would have near zero carbon emissions .

And owners Stewart Milne and family featured at number 214 in this year's Sunday Times Rich List, up from 251, with £294m.

9:39am Tuesday 22nd July 2008

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