ABSTRACT
Quantox Construction was part of a group with an international reputation in the design and/or production of a wide range of expensive capital goods. These were supplied either as individual units or as complete factories, according to the customer's requirements. Quantox Construction's objectives at the time of devaluation were very simple. The aim was to keep its plant and workers as fully occupied as it could, while losing as little money as possible. Quantox was prepared to treat many of its labour costs as fixed for some business, at any rate over relatively short periods of time. Even over fairly long periods, it was prepared to lose money rather than lay off all its skilled workers. It was not difficult for Quantox Construction to be well-informed about the few orders likely to be available, from the small number of potential customers who wanted to buy plants at any time.
