BSW Timber has agreed a multi-million pound finance package with Royal Bank of Scotland Corporate & Institutional Banking to develop a new sawmill at its Fort William site.
The eight-figure, asset-based lending package will enable the new mill to be operational within the next 12 months.
BSW has already invested £18m at Fort William in its on-site capabilities, including a new kiln, treatment plan and biomass facilities.
“We have set ourselves optimistic targets for the coming months, and the redevelopment of Fort William will certainly help us achieve them,” said BSW Timber’s group financial director, Howard Jones.
“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.”
Last October BSW unveiled a plan to buy equipment from Finnforest’s closed Kyroskoski mill and transport it to Fort William and its Latvia mill in a new investment project which would double the capacity of each mill (Fort William increasing to 260,000m³).
Fort William will have a new saw line (a Hewsaw line extended to include an automated horizontal saw), with handling and log feed equipment from Kyroskoski.
