Timber firm Blackheath secures £300,000 funding for new product line
A BLACK Country timber firm has secured a £300,000 funding package to enable it to import a new product line.
Decorative laminate, solid wood and solid surface worktop distributor Blackheath Products Ltd has won the backing of HSBC’s Birmingham Commercial Centre.
The Halesowen-based company is importing from Australia coloured acrylic panels which have the look and feel of glass, but with 25 times the strength. It believes the product, Akril, will appeal to the architectural and interior design market and will help boost Blackheath`s annual sales by £1.5m a year to £25m.
The finance has been arranged by HSBC Senior International Commercial Manager Joanne Yapp-Pennino, who has managed the company’s relationship since 2009. The funding has been allocated from HSBC’s £500m SME Fund for West Midlands businesses, £200m of which has been earmarked specifically for businesses from Birmingham.
Blackheath is a fifth generation company founded in the 1930s as a timber component supplier for the furniture industry. It operates from a 100,000 sq ft site on Fairfield Park and employs 105 people.
The company was founded by current managing director Ian Foster’s great grandfather and Ian’s two daughters now both work for the firm in sales and accounts.
Ian Foster said: “We are excited by the potential of this new product and we think it will especially appeal to the architectural and interior design sectors of the construction and furniture industries, which looks for something that little bit different for their projects. The company that supplies Akril originally focused on the automotive sector, but it is now targeting other sectors.”
Ms Yapp-Pennino, HSBC Birmingham Area Commercial Director, added: “Blackheath is a well-known local business that has been in family hands since being founded in the late 30s. The company is always striving to innovate and offer a better service to its customers and this new product marks the next positive stage in the company’s development.”
