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Managing to survive a downturn: Nick Lowe, general manager, HTC Plant

“What should we do? Start praying? Seriously, though, we are looking to sell some of our older cranes, though to who I don’t know.

“The rest of Europe is in the same boat as us. I’ve heard some companies are looking to sell equipment in Dubai.

“It’s not too drastic yet. Nearly all our cranes are out on site, though that work is soon coming to an end and some projects have been postponed.

“Six months ago we were turning work away – it’s changed almost overnight. Last year we bought 30 new cranes and we were set to take another 30 this year. We had five or six new machines in the first quarter but that’s all.

“There’s still work out there but I’m not sitting in an ivory tower. Everybody’s looking to the Olympics.

“Work should have already started several months ago but a lot hasn’t come on stream yet, so we’re being cautious.”