REBAR firm Kierbeck has pulled out of producing mesh only two years after starting up its east London plant.
Finbarr Lynch, chief executive of the Kierbeck Group, blamed the shut- down of mesh manufacture on falling rebar prices and over-capacity in the market.
He said: 'It was the right commercial decision to move into production two years ago, but now it's not commercially viable.
'Prices have tumbled 50 per cent and there is a huge amount of over-capacity, with the main players in the sector going for larger market share.'
Mr Lynch said the decision to withdraw from production would 'stabilise the market'.
This leaves four major players in the sector - Kent Wire, BRC, ROM and Sanchez.
Mr Lynch said: 'We can now concentrate on our core business - cutting and bending rebar for the construction industry.'
Kierbeck Mesh will now focus on its distribution business.