UCM Timber plc has regained full ownership of timber agency Churchill & Sim Group Ltd.
It has bought back the 50% stake held by Brockley Court International Ltd since 2000 for an undisclosed sum.
The acquisition follows UCM Timber’s purchase of specialist hardwood timber agency Lignum in August and managing director Mark Plews said the company would continue to look at opportunities as they arose.
“We are in softwood, hardwood, panel products and added value, so will look at any of those areas. We will add to the business as we see sense and that is being driven by the trade consolidating.”
|
“We will add to the business as we see sense and that is driven by the trade consolidating” |
|
UCM Timber managing director Mark Plews |
Churchill & Sim is a leading timber agency for Russian timber supplies and Mr Plews said: “We intend to build on this position and expand the company’s interests in representing shippers from Russia and from the Baltic region, Sweden and Finland.”
He said Churchill & Sim was faced a period of change following the decision in May this year by JSC Onega Sawmills to terminate its agency agreement. “The UCM Timber plc board believed this created a window of opportunity to re-assert control over the strategic direction of the company, which we believe has excellent potential and fits well into the portfolio of specialist timber agencies operating under the UCM umbrella.”
Mr Plews said continuing consolidation in the timber trade presented good opportunities for UCM Timber to build its position as the leading del credere timber agency. He added: “Each agency operating under the UCM umbrella has its particular strengths and focus but benefits from the overall size and strength of the group. This combination seems to be welcomed by an increasing number of shippers as well as by our major customers.”
