A growth in forest products trade was recorded by Associated British Ports (ABP) Holdings plc in the first six months of 2003 despite an uncertain economic climate.
The company’s overall UK ports and transport operations recorded a 7% rise in turnover to £172m, while pre-tax profits were up 4% to £69.6m.
At Hull, a £600,000 investment in timber storage facilities was completed in March, accommodating new business from Grange Fencing. A £1m investment at Immingham Forest Products Terminal was also completed.
A further boost to Immingham’s forest products trade will be an £800,000 new warehouse development, following a five-year agreement with Humber Timber Terminals.
Meanwhile, £4.6m timber storage facilities at Newport went operational in June, as a result of a 20-year contract with Saint-Gobain. Barry will see an £800,000 spend in a new pallet production facility on the back of a 10-year agreement with Scott Timber.
