Mila Window & Door Maintenance is set to benefit from new funding arrangements put in place by its parent company Heywood Williams Group PLC.
The Group has responded to the decline in volumes across the building products sector and has taken steps to manage its balance sheet so that it can not only weather the current difficult market conditions but be well positioned for the market upturn when it begins.
Medium term funding of £60m has been put in place in the UK which ensures that the Group has sufficient support and stability to withstand even a prolonged downturn.
The company announced the news to the UK stock market on 18 February 2009 and shares in Heywood Williams Group doubled in response.
Richard Gyde, Managing Director of Mila Hardware & Mila Maintenance, says: “This is good news for Mila because it ensures that we remain flexible and focused to operate the business in the current market conditions and allows us to continue our programme of investment in new products and planned value adding opportunities.
“With so much uncertainty currently affecting the UK fenestration market, our customers will, I am sure, be reassured by this very positive news.”