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Silvery Tweed Cereals Ltd wins £1.2m boost
by Chris Knox - 11/11/2010
"A 167-YEAR-OLD cereals processing company is set to create jobs and boost its profits after receiving more than £1m to upgrade its production and storage facilities."
Family-business Silvery Tweed Cereals Ltd, based in Berwick, has won £1.2m of funding from York- shire Bank and One North East, and has already started work on improving its facilities on Tweedside Trading Estate.
The investment is expected to create six jobs as well as protect its current 70-strong workforce, and will see the introduction of new warehousing, grain silos, a grain intake system, a waste collection facility and an upgrade of the firm’s cereal cooking plant.
The firm now expects the improvements, which will be completed by December, to help boost its turnover from £17m to £19.5m over the next 18 months, with its profits expected to grow in the same period.
The extra capacity, which has already seen the firm increase its floor space from 16,000sq ft to 22,000sq ft, should also help it boost production from 180 tonnes of cereal a week to around 270 tonnes a week.
Founded in 1843, the company supplies its cereals to some of the world’s best-known food brands, including Kellogg’s , Heinz, Britvic, Dorset Cereals and United Biscuits.
The new facilities will allow the company to make significant savings by allowing it to store its cereal in-house rather than through an external contractor – which has cost it up to £220,000 a year – and will cut down on transport costs.
Managing director Bob Gladstone said: “This extension will quickly enable us to extend our services by providing storage facilities for our customers, as well as holding more stocks of finished products to create a more efficient service.
“On the grain handling side, the extended facility will reduce storage costs and make us more efficient by having longer production runs.
“It will also enable us to improve site hygiene by containing all waste in a purpose-built storage silo and reduce vehicle loading times.”
The company, which sources much of its wheat and barley from local farmers, has seen huge growth since 2004, when it employed around 28 staff and had a turnover of £4m.
Pivotal to its growth was the opening of the nearby £3.5m Henry Ogle Mill in 2003, which provides bread products to companies including Hovis.
It also opened a purpose-built coating plant at its Tweedside Trading Estate site in November 2006, where it adds flavourings, coatings and glazes to a range of cereal products.
More Details: http://www.nebusiness.co.uk/business-news/latest-business-news/2010/10/27/silvery-tweed-cereals-ltd-wins-1-2m-boost-51140-27547911/
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