A Berwickshire packaging and pallet supplier has announced a major expansion plan after agreeing a funding packaging with the Royal Bank of Scotland.
The facility will allow BSW Timber (BSW), whose customers operate in a number of sectors including pallet and packaging, construction, fencing, gardening and DIY, to begin developing a new sawmill at Fort William.
The firm is already the largest sawmilling business in Great Britain, with operations across the country as well as one sawmill in Latvia.
It produces 1,000,000m3 of sawn timber per year and employs over 900 people in total and has a group turnover of £163m.
The site at Fort William is just five miles west of Ben Nevis and has already had £18m invested in its on-site capability, including a new kiln, treatment plant and biomass facilities. The latest funding from RBS is an eight figure, asset-based lending structure and will be utilised for the construction of a greenmill, which BSW hopes to be operational within the next 12 months.
Howard Jones, group financial director, said: “We have banked with RBS for a long time, and yet again they have come to us with exactly the sort of package we were looking for. We have set ourselves optimistic targets for the coming months, and the redevelopment of Fort William will certainly help us achieve them.
“We are delighted with what has been put together, and look forward to the improvements it will make to our business needs, as well as our customers.”
