Historic paper mill business, Fourstones Group has successfully secured £120k of funding to diversify its products from its facilities in Hexham, Haydon Bridge and Fife.
Fourstones Paper Mill has been successful in applying for loan funding of £120k from a legacy pot of funding from Northumberland’s Regional Growth Fund (RGF). The fund, which Advance Northumberland and Northumberland County Council have delivered, focused on safeguarding and creating jobs within the rural area of Northumberland.
Established in 1763 Fourstones Paper Mill has a long tradition of manufacturing specialist paper. The Group supply a wide range of paper disposables and parent reels, and their innovative approach to papermaking and continuous investment into paper technology has ensured their products are market leaders. Products include a paper disposable range which includes centrefeed towel rolls, medical / couch rolls, industrial wipes, and toilet rolls.
The Advance Northumberland Strategic Account Management team have worked with Fourstones in supporting the application to unlock the funding which will be used to support product diversification opportunities at its Haydon Bridge facility in Northumberland. They intend to replace their current line and diversify products to access a more commercial target market including hotels and will use the loan in the purchase of equipment.
Fourstones Managing Director Mr Peter Duxbury said: “Advance Northumberland’s financial support has been invaluable in helping us achieve our ambition to diversify and expand our product offering from the Haydon Bridge site. This expansion would have been difficult to do so without its assistance. We are also delighted to have been able to retain specialist, highly skilled jobs as a result.”
Richard Wearmouth, Chair of Advance Northumberland said, “Fourstones Paper Mill is a historic business and we are delighted they can expand and diversify their range from right here in Northumberland, and continue their operation, thanks, in part, to our support. The retention of skilled jobs and the company’s on-going continuous investment programme is a tremendous boost to the county’s workforce and manufacturing sector.”
Advance Northumberland’s Strategic Account Management team work with a variety of Northumberland’s businesses providing access to finance, finding premises, and support with skills training and recruitment in the area.
Advance Northumberland is the regeneration, physical delivery and business support vehicle delivering regeneration throughout Northumberland on behalf of Northumberland County Council. It has a portfolio of assets and land worth £250 million and can support businesses with access to finance, training and recruitment advice, supply chain connections and introductions to external support programme and business networks.