The FINANCIAL — UK-based Autocraft Drivetrain Solutions has won £100,000 from the Regional Growth Fund to upgrade equipment with our help.
As Royal Bank of Scotland reported, through a partnership of Lombard, Transaction Services UK, and NatWest, Autocraft are able to buy a machine to future-proof the business, secure their relationship with Ford and save 135 jobs.
Autocraft serves big names like Chrysler and Aston Martin. It recycles and refurbishes used engines. It is Europe’s largest independent engine re-manufacturer.
Re-manufacturing of Ford engines accounts for 30% of their business (worth £4m). Ford have radically changed their engine technology, and Autocraft needed to upgrade its equipment to match or fall behind. So they turned to us for help.
The unique capital import loan proposed by NatWest and Lombard, and delivered by Transaction Services UK, took care of the stage payments requested by the German supplier and the relocation of the machine from Germany to the UK.
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