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Black Country construction supplier invests in new machinery following Lloyds Bank investment PDF Print E-mail
Tuesday, 21 April 2015

A Black Country-based construction aggregates supplier has purchased a new crusher machine to help grow its production volumes by up to 50 per cent, thanks to the support of a £364,000 funding package from Lloyds Bank.

JPE Aggregates Limited acquired the new crusher machine for its quarry in Shire Oak, Walsall, to allow the business to meet industry demand for smaller graded aggregates, which are typically in short supply within the construction sector.

A long-standing customer of Lloyds Bank Commercial Banking, the firm was referred to the bank’s Commercial Finance team to secure a hire purchase facility. This means the company can pay down the full cost of the machinery over an agreed period to ensure its day-to-day cashflow remains fluid.

Established in 1995, JPE Aggregates has grown to become one of the Midlands’ leading suppliers of aggregates, sand and soils to the construction industry.

With quarries in Walsall and Wolverhampton, the firm employs 70 people, and has a fleet of 25 vehicles, and through its recent expansion, is expecting its annual turnover to reach in excess of £10million this year.

Steve Birch, Financial Director of JPE Aggregates, said: “We’re pleased to have secured this financial package from Lloyds Bank, which has enabled us to significantly increase our production capability to meet market demand for smaller graded aggregates.

“The hire purchase facility has helped us to complete one of a number of investments aimed at developing our sites, leaving us well placed to achieve our long-term growth ambitions.”

Ian Littleford, Relationship Manager at Lloyds Bank Commercial Finance, said: “We’re committed to helping Midlands businesses prosper as the economic recovery continues, by providing access to funding for firms with ambitions to grow.

“The hire purchase facility was a good fit for JPE Aggregates’ funding requirements, helping it to invest in its infrastructure through the acquisition of a new crusher machine, without impacting its day-to-day cashflow.”

Adrian Burden, Relationship Director at Lloyds Bank Commercial Banking said: “We’ve been proud to work with JPE Aggregates in a period which has seen sustained investment to support the firm’s impressive expansion. We look forward to continuing to work with the firm as it grows in the months and years ahead.”

(Source - Lloyds Bank Press Release)  

 
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