UWP sells to EOT

Universal Wood Products has been sold to an Employee Ownership Trust, with all of the management and factory staff on board.

Managing director Martin Cossington said the move was the best option for the future of the business whilst keeping the ethos and incentives for the present staff and management.

He says: A great future now lies for the benefit of all the staff .  I am really pleased to see the legacy of the business continue into the future. All of the management and staff now know that their futures are secure, and our customers can continue to have confidence in both the product and service that UWP are known for . Once the decision was taken, in agreement with all shareholders, the process was efficient and very positive with the assistance of RVE Corporate Finance acting as independent advisors to submission and completion.”

He continues: “As a major producer of primed MDF profiles based within the M25, we continue to meet the varied demands of the second fix market on primed profiles . Our merchant customers can draw from our comprehensive stocks of standard specifications, while our dedicated specials made to order line is still flexible enough to offer a prompt 5 to 7 day lead time.”