BSW Timber receives multi-million pound finance to develop Fort William site

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BSW Timber receives multi-million pound finance to develop Fort William site

Berwickshire-based BSW Timber (BSW) will begin developing its sawmill at Fort William in Scotland after agreeing a significant financial package with Royal Bank of Scotland Corporate & Institutional Banking (RBS CIB).

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08 February 2012

BSW is the largest sawmilling business in Great Britain, with operations across the country as well as one sawmill in Latvia. The company, which produces 1,000,000m3 of sawn timber per year and employs over 900 people in total, had a group turnover of £163m up to 2011. BSW, which can date its foundations back to 1848, supply sawn timber products to customers in the construction, pallet and packaging, fencing, gardening and DIY sectors and the latest financial package will help continue to develop one of its major sites at Fort William.

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 CIB 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 at BSW Timber, 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. Although we are already the largest sawmilling business in Great Britain, we certainly don't want to rest on our laurels, which is something the team at RBS understand perfectly. 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, RBS CIB Scotland, said: "BSW is a company we know very well, and we are delighted to continue our relationship with them through this latest round of funding. The company is an excellent representative of ambitious Scottish business, and is the sort of market leader we take great pride in assisting."

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