A historic paper mill in rural Northumberland has secured funding of £120,000 to diversify its products.
Fourstones Paper Mill, which dates back to the 18th century and is based near Hexham, has received the loan from Northumberland’s Regional Growth Fund (RGF), which is focused on safeguarding and creating jobs in the rural area of the county.
The mill - which also has a site in Fife, Scotland, has a long tradition of manufacturing specialist paper and supplies a wide range of paper disposables and parent reels.
Its innovative approach to papermaking and investment in technology has ensured its products - which include industrial wipes and toilet rolls - are market leaders.
The company was supported by Advance Northumberland in its loan application, with the money set to be used to replace equipment so it can diversify products and access more commercial target markets, including hotels.
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.”
Regional business editor 6 NOV 2019 www.business-live.co.uk