BSW Timber plans £50m investment

BRITAIN’S biggest sawmill operator yesterday unveiled a £50 million investment in its operations at Fort William and Latvia.

Borders-based BSW Timber said the expansion, which had been delayed by its takeover of rival Howie Group two years ago, would be spread between now and 2015.

It is understood that about £43m will be pumped into the Lochaber site, while the remainder will be invested in Latvia.

BSW Timber chief executive Tony Hackney said: “For some time, the development at BSW’s colossal Fort William site, at the foot of Ben Nevis, has been postponed in favour of growth through the acquisition of Howie Forest Products in Dalbeattie, the largest sawmill in the UK and one of the largest in Europe.”

News of the investment comes as BSW Timber posted a 187 per cent rise in profits to £17.2m, on the back of a 48 per cent rise in turnover to £163m.

Hackney said: “Our results for the year demonstrate a considerable achievement for the group.

“All aspects of the business were profitable following a period of restructuring. The integration of Howie continues and there are more synergies to come as we realise the potential we always knew was there.”

BSW’s other mills are at Boat of Garten, Petersmuir in East Lothian, Carlisle and Wales.