Scottish borders-based sawmill firm, BSW Timber, has announced a major investment programme in its operations in Latvia and in Scotland’s Fort William. FRA, a research and analysis consultancy specializing in forestry investment and sustainability welcomed the news of the investment, adding that the plan could boost forestry investment in Scotland in general.
The investment will total some £50 million and will be split between the firm’s operations, with around £43 million staying in Scotland. Tony Hackney, BSW’s Chief Executive, said that the investment project has been a long-time coming: “For some time, the development at BSW’s colossal Fort William site, at the foot of Ben Nevis, has been postponed in favour of growth through the acquisition of Howie Forest Products in Dalbeattie, the largest sawmill in the UK and one of the largest in Europe.”
He added, “All aspects of the business were profitable following a period of restructuring. The integration of Howie continues and there are more synergies to come as we realise the potential we always knew was there.”
FRA’s analysis partner, Peter Collins, added, “Now seems to be the ideal time for BSW to undergo this major expansion and development plan and it has the cash to see it through. We welcome the news of the investment in Scottish forestry and look forward to seeing if the cash injection helps to boost the industry as intended.”
FRA promotes investment in sustainable forestry projects, such as the plantations being developed in Brazil by firms like Greenwood Management. “Forestry investment has a huge role to play in helping to reduce carbon emissions by boosting carbon sequestration, thus helping put an end to climate change,” added Mr Collins.
About Forestry Research Associates
Forestry Research Associates is a research and advisory consultancy that focuses on forestry management, sustainability issues and forestry investment around the globe.
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