A company that sells high end furniture made from recycled materials is moving to Cornwall so it can consolidate and expand its business.
Eco Furniture International Ltd is receiving £150k of Convergence funds and investing £211k of its own money into the move, which will involve leasing workspace in Launceston and buying new equipment. It is estimated that the move will create 15 jobs.
Once established in Cornwall, several new products will be developed and it is estimated that turnover, which was £1.4 million for the year ending March 2011, will more than double this over the next three years.
Eco Furniture International Ltd has also been approved via SWIG Services for a £50k loan from the South West Loans Fund, and has received substantial support from InvestinCornwall (UK & EU), the county’s UK inward investment service run by Cornwall Development Company (CDC).
MD Nick Powell said, “Without this Convergence support we were faced with having to mitigate existing overheads, reduce staff numbers and outsource at significantly lower cost to India. This now means we not only remain in the UK but expand products and markets, provide secure employment and remain true to our core value of local eco-social responsibility.”
The company currently operates from two bases in Gloucestershire. It specialises in transforming waste material, including timber and aluminium, into sustainable products that are accredited by the Forest Stewardship Council (FSC) and The Royal Horticultural Society (‘Master Brands’). Clients include John Lewis, private customers, leading Hotels and blue chip commercial clients.