Pace Timber Systems and subsidiary Pace Timber Engineering aim to capitalise on future government housing plans for Milton Keynes, one of four areas earmarked for development by deputy prime minister John Prescott.
The number of houses in the region is set to double over the next 30 years – equating to around 70,000 dwellings – and the timber frame and roof truss companies plan a two-pronged attack to maximise opportunities.
Phil Hart, general manager of Pace Timber Engineering, said: “In addition to the housing plans that John Prescott has announced for Milton Keynes, Lord Rooker, the minister of state for housing and planning, has issued a report planned for a major new region – Milton Keynes and the South Midlands. It is our aim to ensure that we are equipped to support such ambitious housing programmes locally.”
Pace Timber Engineering currently produces up to 3,000 roof trusses a week. This will rise to 4,000 when the company moves to a new modern factory in Milton Keynes next year and invests in additional plant and machinery.
Mr Hart said: “We have always been strong on innovation and are looking to bring on stream other timber engineered products such as engineered floor joists, and factory assembled floor and roof panels.”
Pace Timber Systems managing director Phil Key predicts that group turnover – made up of Pace Timber Systems, Pace Northern, Pace Timber Engineering and Dry Lining – will reach £15.5m during 2003.
He added: “If we are successful in achieving this, then it represents an eight-fold increase over two years.”
