A team of Newport-based directors are in the running for the prestigious Ernst & Young Entrepreneur of the Year Award – one of the world’s biggest award schemes.

The co-directors of Newport’s Premier Forest Group, one of the UK’s leading timber importers, manufacturers and merchants have been shortlisted as London and the South regional finalists for their work building their multi-million pound business, which is one of the fastest growing in its industry.

The Ernst & Young Entrepreneur of the Year Awards run in more than 145 cities in more than 60 countries worldwide and honour those who are building and leading successful, growing and dynamic businesses.

The Premier Forest Group, which has its head office in Newport Docks, is one of the UK’s leading vertically integrated timber groups. It operates from 14 sites within the UK and Eire and is principally engaged in sawmilling, processing, importation and the distribution of timber and associated products. The group employs more than 300 members of staff.

Through an expansive acquisitions programe, which commenced in 2011, turnover has grown from £53m with sales for this financial year projected to reach £120m.

Terry Edgell, co-founder of Premier Forest Group, said: “We have always had strong ambitions for the group. Our relatively recent acquisition strategy has allowed us to enhance the group’s significant organic growth across the UK and Ireland; de-risking ourselves and expanding the range and diversity of our product and customer base. We are proud of what the company and our teams have built over our 23 year history; with the best still to come."

Premier Forest Group offers an extensive range of timber and allied services to the timber and builders’ merchants sector and large consumer industries including the caravan and motor home sector, furniture, coffin, joinery, packaging and timber frame housing producers. In addition the group manufactures it own garden furniture, fencing, gates, decking and timber components as well as offering post-manufacturing services such as laminating, cutting, drilling and painting.

Dilwyn Howells, co-director, said: “We have made significant investments into the group in recent years, including state of the art computer controlled machinery, which has increased production output at our two sawmill sites in Newport and at Lostwithiel in Cornwall. We have also made major investments in solar and bio mass power generation at these sites, reducing our energy costs and carbon footprints dramatically.”

Co-director Nigel Williams said: “To be finalists at the EY Entrepreneur of the Year award program is a real achievement. The competition across the UK is fierce with some excellent and inspiring business leaders in the running. We hope we can bring the award back to Wales and South west.”

The EY Entrepreneur of the Year award winners for London and the South will be announced on June 28 at a ceremony at the Tate Modern in London. Other finalists for the region include Flybe, Propercorn, money.co.uk and Credit Safe.

Regional winners will be eligible to compete in the EY Entrepreneur of the Year UK national programme.