A Dundee door manufacturer formed from a management buyout earlier this year is investing £1m as part of a “vigorous growth” strategy.
McTavish Ramsay (MTR) is aiming to double turnover to £12m within three years by sustaining its volume business of 3,000 doors a week and increasing the value-added side in architectural doorsets, currently running at 300 a week.
Managing director Ken Shepherd said: “Across the UK there is this belief that anything to do with building and construction is in crisis and this is simply not the case. The PFI sector and construction as a whole is still buoyant for us and we have seen an increase in inquiry levels.”
He added: “There is an estimated £300m market available for our product range. We only have to win a small proportion of that to achieve our goals.”
MTR was the subject of an MBO in 2004, but by last year losses had reached £240,000 on turnover of £6.5m. Mr Shepherd’s MBO in January was backed by Glasgow investment company Symphony.
The new company aims to be in the black within six months through improved volumes and pricing from factory efficiencies and better buying decisions.
MTR has introduced a new high density multi-layer particleboard in the manufacture of its core range and installed a new beam saw, double-ended tenoner, press line, a door and frame CNC and double-sided sander.
“I have known for a long time that this is a solid business with enormous potential. Specifiers and contractors are more reliant on us providing their solutions,” said Mr Shepherd.
