Maufacturer steams ahead with eight-figure support from bank
Burton-on-Trent locomotive manufacturer, Clayton Equipment, has secured an eight-figure underwriting facility from HSBC UK to help woth the build of 14 hybrid locomotives for Beacon Rail Leasing.
The new contract will see Clayton Equipment produce hybrid machines, the first of their kind for the UK rail industry. The green locomotives are set to lower emissions by 90% per tonne haul, compared to their diesel counterparts, using large rechargeable traction batteries.
Steve Gretton, executive chairman of Clayton Equipment, said: “We were very grateful to HSBC UK, and in particular to our relationship manager, Laura Robinson, for supporting us in this very prestigious project. The development of this new technology is pivotal, not only to the development of our business moving forwards, but for the whole sector. Whilst the technology is already well-established across the automotive sector it will be the first of its kind for the rail industry and its fantastic that we’re able to develop such green and innovative products to further the development of UK rail.”
David Tomlinson, HSBC UK East Midlands area director, said: “We were pleased to support the team at Clayton Equipment with the facility to enable the build of such an important new technology. These new hybrid locomotives will further advance Britain’s railways and we look forward to continuing to support the company to achieve its future UK and international business growth and environmental objectives.”
Due to the continued expansion of the business, Clayton Equipment will shortly be relocating to a 93,000 sq ft site in Burton-on-Trent to support increased production and enable the team to reduce lead times. To support its growth, Clayton Equipment has plans to triple the size of its team over the next five years.