It is a major sign of faith in Selkirk, the workforce and the Borders as a whole, that Oregon Timber Frame Ltd has invested another £600,000 in the town.
That was the view this week of local senior Scottish Borders councillor Gordon Edgar (Ind), speaking as the finishing touches to Oregon’s new expansion of facilities in the town’s Dunsdale Road were completed.
Announced during the summer, the new expansion to the firm’s existing site in the Royal Burgh, measures 18,000 sqft, and together with an additional 20,000sqft production facility in Burton upon Trent, jointly represents a 50 per cent increase in Oregon’s manufacturing potential.
Oregon chairman Roderick Lawson said: “We are very pleased that we have now created new production capacity which will enable us to increase our service to clients as they respond to the recovering housing market.”
Oregon recently released its trading results for the year to December 31, 2012, showing a modest increase in turnover to £13.2million and group profit before tax increased to £792,000, compared with the previous year’s profit of £541,000. The company says this solid performance and its strong balance sheet are due in part to Oregon’s success in the English housing market, where turnover increased to £2.4million from £1.4million in 2011.
The company’s position also benefited from the relative stability of timber prices during the year and from continued focus on operational efficiencies.
The average number of employees in 2012 was 79 and this is expected to rise as more staff are taken on in anticipation of further growth.
Mr Edgar says it’s a major sign of confidence, not just in Selkirk and the workforce, but in the Borders as a whole.
“Any investment at the moment is welcome and this is a major one of £600,000. Especially when that investment also happens to be in expansion of manufacturing facilities – this is great for both Selkirk and the Borders and hopefully this expansion will lead to more jobs and more fluid money in our local economy,” he said.
“The prosperity of the Borders will be greatly boosted by this investment and it’s really good this company has got itself a market that it thinks it can develop and take forward.
“It’s really good news. Oregon has done really well. The firm could have gone elsewhere, but they have decided to stay in Selkirk and in the Borders, and that’s brilliant.”