Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
UK kitchen supplier Magnet, have announced plans to expand their business through the Magnet Trade channel into the resident social landlord (RSL) market.
The firm will invest more than £750,000 on personnel, IT development, new product design, visibility in the marketplace, and greater stock supplies to meet the increased demand from local contracts.
With an overall market value of circa £290m, and funding via the Housing Corporation for the creation of 70,000 new affordable houses between 2005/6 and 2008/9, Magnet Group sees this sector as a great investment opportunity.
Magnet Group trade commercial operations manager Rupen Patel comments: “Magnet Trade currently works with 27 Greater London Boroughs along with ten neighbouring Borough District Councils and 26 Housing Associations in the South East. We plan to invest more than £750,000 within the region in order to meet the demand for the growing South East RSL industry.
“In recent years we’ve tracked the rapid growth within the social housing industry. The South East in particular has been identified as a target area and one which we are extremely well placed to develop further.”
