GLENALMOND Timber has received £600,000 in CBILS funding from Royal Bank of Scotland to help safeguard the future of the business following the Covid-19 pandemic.
The Perthshire-based timber manufacturing company is a third-generation family business. The new funding package will enable the firm to continue with its expansion plans and delivery new solutions for the construction industry.
Originally founded in the 1950s, the company employs more than 30 people across its Perth Harbour and Methven facilities. The recent funding has enabled the business to keep all existing employees on board, as well as the creation of new jobs, with the recruitment of additional machine operatives.
Fraser Steele, MD of Glenalmond Timber said, “The funding from Royal Bank of Scotland has not only helped us to continue to supply our existing clients throughout the current pandemic, it has enabled us to pursue and secure several new clients as well as exploring ways to develop and expand our existing offerings post Covid-19.”
Ken Anderson, relationship director at Royal Bank of Scotland added, “The construction sector and businesses that support the industry have been presented with a plethora of challenges over the past few months with the coronavirus pandemic bringing the industry to a temporary halt. It’s rewarding to know that our recent funding has allowed Glenalmond Timber to continue operations across the UK, Ireland and Europe and to prepare for the ‘new normal’ post-Covid-19. I look forward to supporting and watching the company grow as the economy gets moving again.”