Funding sees furniture manufacturer eyeing turnover hike
A WORCESTERSHIRE furniture manufacturer is set to increase turnover and reduce energy costs as a result of a six-figure funding deal.
It received the money from NatWest and the bank’s asset finance arm Lombard.
Witley Jones Furniture was founded in 1997 by Chris and Jane Jones and specialises in the design, manufacture and installation of furniture, primarily within the education sector.
With clients UK wide and 26 staff, the business operates out of a 20,000 sq ft workshop located in Stourport-on-Severn.
The funding has enabled the company to purchase a nearby workshop and storage unit, increasing floor space by a further 7,500 sq ft and also to install a biomass boiler which will be fuelled by the waste wood left over from the core manufacturing processes.
The boiler will provide heat to the main premises, with any surplus energy being used to dry products during the manufacturing process. It is expected that the boiler’s installation will cut annual energy costs by 30% and reduce the business’ waste to landfill by 90%.
Overall cost savings are predicted to be around £50,000 per annum.
Chris Jones said: “This investment is about improving efficiency in a sustainable way and something we had been considering for a while. I attended a seminar held by the bank on the benefits of renewable energy, which convinced me that now was the right time to invest for the benefit of the business.
Jones said the firm is aiming to increase turnover by 30% within the next three years.
Phil Whiteley, senior relationship manager for NatWest, said: “It’s great to see this well-respected family business reaping the benefits of renewable energy.”
