Century Homes, the timber frame home manufacturer, is to increase its presence in the UK through the acquisition of a company based in Northumberland.
It is purchasing Timber Frame Solutions (TFS) for an undisclosed sum, in what it says is a significant expansion of its presence in the UK market.
Century already has a plant in Tredegar in Wales and a sales office in London, and says that its new purchase, in Blyth near Newcastle, "is ideally located to serve both the English and Scottish markets."
TFS is being purchased by Century from its founding parent, Pierse Contracting of Dublin, one of Ireland's leading construction firms. It is a "full function timber frame business" encompassing sales, design, manufacture and erection. It concentrates on medium and large-scale projects and has clients in the social and private housing markets and the education and health sectors.
The purchase gives Century Homes the capacity to produce in excess of 2,500 units to the UK market, according to Mr Gerry McCaughey, its chief executive. It plans to increase its UK turnover from €12 million now to €50 million in five years' time and says its new acquisition will allow it to target major commercial builders with medium and large house-building schemes, as well as participating in social and affordable housing programmes.
Century Homes was established in Monaghan in 1990. It produces over 5,000 buildings annually and employs 320 people in its Irish plants in Longford, Dungarvan and Monaghan, and 40 in its Welsh plant. The plant it is acquiring will also have a staff of 40.