Bank funds for sawmill expansion

By Scott Reid
Published on Thursday 9 February 2012 00:55

Britain’s biggest sawmilling business has secured an eight-figure funding deal to further develop its site at Fort William.

BSW Timber said the cash injection from Royal Bank of Scotland would be used to construct a “green mill”, which can process newly felled trees.

The operation, which is located five miles west of Ben Nevis, has already had £18 million invested in its on-site capability and industry experts said the latest financing deal was likely to be of a similar scale or slightly higher.

Berwickshire-based BSW has facilities across the UK as well as a sawmill in Latvia. The firm, which generated sales of £163m last year, produces one million cubic metres of sawn timber each year and employs about 900 people.

Howard Jones, group financial director at BSW, said: “We have set ourselves optimistic targets for the coming months, and the redevelopment of Fort William will certainly help us achieve them.

“Although we are already the largest sawmilling business in Great Britain, we certainly don’t want to rest on our laurels.”

He added: “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’.”

Eddie Rintoul, managing director of RBS’s corporate and institutional banking arm in Scotland, added: “BSW is a company we know very well, and we are delighted to continue our relationship with them.”

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