I worked at LHTD for some years. Since the retirement of a certain Scotsman the factory has suffered.
Successive MD's have pretty much caused what has happened today. Taking deals at any cost, employing people with no knowledge or managerial skill, forcing people out who actually contributed to the business.
Profitability can be measured in many ways. covering costs, contribution to the overall business, full line supplier etc. all impact a factory. Bean counters really only look at one thing. Basingstoke factory closure is a case in point.
Managers by title doesn't mean they are managers by deed.
It is indeed a sad day for many people in Merthyr.