Oregon Timber Frame Ltd has acquired the former Co-op furniture retail store in Selkirk adjacent to its present manufacturing facility. The 56,000ft2 building has received planning permission for conversion to manufacturing premises which will supplement existing capacity and allow the company to double its turnover.
In the previous year, the company built and equipped a new 16,000ft2 factory in Selkirk so the latest acquisition will allow the company to continue to grow to meet demand in the housing market.
The trading results for the year to December 2014 have been filed and show that turnover has increased to £15m and profits of £506,000 were earned.
Chairman Roderick Lawson commented:
“The Company is experiencing a high level of growth in the current year, and we are very pleased to have made this purchase, as it allows us to continue to increase capacity. The housing industry remains busy and besides expansion plans by our existing customers, there are UK housebuilders starting to use timber frame as an alternative to brick and block. With supply chains increasingly stretched by shortages of skills and materials on site, we believe that we can offer a dependable system and maintain service levels through controlled growth in the years ahead.”
The average number of employees in 2014 was 96 and the company currently employs 118.