Yorkshire manufacturer wins contract to upgrade Iraqi firefighting fleet
A West Yorkshire business, Angloco, is supporting one of Iraq’s biggest-ever investments into its emergency services following a deal brokered by the UK government.
Issued by UK Export Finance (UKEF), the Government’s export credit agency, a $31m/£25m loan allows Iraq’s Ministry of Interior to purchase 62 British-made fire-fighting vehicles.
Each vehicle, capable of carrying up to 6,500 litres of water and 500 litres of foam, will help tackle frequent fires that breakout in Iraq – especially in the summer, devastating businesses and communities.
JP Morgan acted as both Sole Mandated Lead Arranger and agent bank for the loan.
Batley-based Angloco will provide half of these vehicles, which will be stationed and deployed across Iraq by its Civil Defence Directorate.
Angloco, which is the UK’s oldest manufacturer of fire engines, is an established exporter which supplies to customers in over 70 countries. Scottish business, Emergency One, will provide the remaining vehicles for Iraq.
UKEF has four regional representatives in Yorkshire and has helped a range of local businesses to deliver overseas contracts, including bed manufacturer Jay-Be and toy putty business Slime Party.
Gareth Thomas, UK Minister for Exports, said: “We have a Plan for Change to help grow our economy and support workers right across the country and that’s precisely what these deals are about.
“Shining a spotlight on cutting edge tech and highly skilled jobs, this announcement shows the UK’s exporting potential and manufacturing strength.”
By helping buyers to purchase UK exports more easily, UKEF loans are designed to secure large contracts with favourable payment terms for British businesses – including small businesses likely to need payment upfront before they can deliver a contract.
John Meakin, global head of export finance at JP Morgan, added: “JP Morgan is pleased to support the finance of firefighting equipment from the UK to the Republic of Iraq.”
