Trade Resources Industry Views A TIMBER Business Is Planning to Grow by 30%

A TIMBER Business Is Planning to Grow by 30%

A TIMBER business is planning to grow by 30% and take on 12 new staff thanks to a £1.5million finance package. The P&A Group of Companies, a leading manufacturer and distributor of timber products, is seeking to increase turnover after acquiring new commercial premises in Mold. P&A Group - which operates the town’s garden centre - produces pallets, packing cases and timber products, supplying approximately 450 businesses across the UK. The company has acquired a 4.5 acre site next to its existing premises on Mold Industrial Estate, with the backing of HSBC. The new site contains two 26, 000 square foot warehouses and land for further development. One of the warehouses will be used for the manufacturing and distribution of timber garden products and to support the development of the landscaping business, whilst the other will be used for a new business – serviced warehousing for one of the company’s existing pallet clients. The company’s head offices will also be relocated to the new site, freeing up space at its existing location to expand the garden centre operation. Managing Director Steve Morgan says the new site will enable the company to increase turnover, which currently stands at £5 million a year, by between 20% and 30%, and will also lead to approximately 12 new positions being created, up from 76 currently. He said: “We were landlocked by our existing premises, which made expansion difficult. “This investment gives the company the capacity needed to build and sustain future growth, enabling us to expand our existing operations and open up new markets, such as the serviced warehouse facility. ” The deal was managed on behalf of HSBC by International Commercial Manager Wyn Jones, based at HSBC’s North East Wales Commercial Centre. Support for the deal came from the Welsh Government through grant assistance. Gary Burton, HSBC Regional Commercial Director for Wales, said: “The P&A Group of Companies has delivered a clear vision of how it wants to expand its business and HSBC is pleased to be able to support it. ” Source: dailypost

Source: http://www.dailypost.co.uk/business-news/business-news/2012/05/30/mold-timber-business-plans-30-growth-with-1-5million-funding-package-55578-31072243/
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Mold timber business plans 30% growth with 1.5million Pound funding package
Topics: Construction