Glenalmond Timber secures £600k CBILS funding from RBS
Perthshire-based timber manufacturing company Glenalmond Timber has received £600k in CBILS funding from the Royal Bank of Scotland to help safeguard the future of the business following the coronavirus pandemic.
The finance package will assist the third-generation family business to continue to supply clients across Scotland, the UK, Ireland and Europe. It will also enable the business to continue with its expansion plans and delivery of a variety of new, innovative and sustainable solutions for the construction industry as well as scoping out emerging markets.
Originally founded in the 1950s, the company currently employs more than 30 members of staff 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, managing director, 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.
“Our relationship director Ken Anderson worked tirelessly to ensure the application process was as smooth as possible and we secured the funding required to help us navigate through and beyond the pandemic. We have banked with Royal Bank of Scotland for more than 60 years and having their support and belief in our company has been reassuring during this challenging period.”
Ken Anderson, relationship director at RBS, 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.”