Timber company BSW Timber has increased both turnover and profits, on the back of which it plans to expand capacity at both its Fort William and Latvian Mills in a drive to produce more than 1.3million cu m of sawn timber per year across all mills.
The new plans are a major part of the company’s £50million investment programme over a five year period to 2015, and follow a strong set of financial results reported by BSW for the year ending March 2011.
In the year to March 31 2011 the company saw profits after tax rise 280% to £12.4m on turnover that was up 48% to £163m .
The latest expansion of the Fort William site expansion plans will include a new Hewsaw SL250 3.4 Trio line which has been extended to include an automated horizontal saw, allowing for maximum flexibility.
An agreement has been reached to purchase the equipment from the technically enhanced Finnforest, Kyroskoski sawmill, which was mothballed in 2009. The equipment will be used not only to create a world class mill at Fort William but also to double the capacity at the BSW Latvia operation. Work on the new sawmills will commence in November this year, and will be completed by early 2013.
Tony Hackney, CEO of BSW Timber said: “Going for growth is a theme that has driven the strategy for BSW Timber since the 1990s. The development of flexible and high capacity mills with the latest technology to provide first class home grown products is an essential part of the company plans.”
“These strategic investments are a sign of confidence in the medium-term that we, at BSW, have in the UK market. We are committed to being a highly competitive manufacturer of sawn timber and associated products and are expanding our portfolio of products and capacity to better serve the demands of our customers, as well as strengthening our partnerships with our chosen key suppliers.”