Welsh industrial firm achieves milestone with HSBC UK funding
A South Wales quarrying contractor has purchased its 1,000th Volvo vehicle with the support of a six-figure equipment finance loan from HSBC UK.
The purchase of the new energy efficient 33-tonne wheeled loader marks a significant moment in Chepstow Plant International’s continued growth, becoming one of the first independent companies to reach the 1,000-heavy quarrying fleet milestone, with Volvo and retailer SMT GB.
Over the past five years, Chepstow Plant has invested approximately £100m in more efficient engines across its fleet – with 75 per cent of this funding coming via HSBC Equipment Finance (UK) – including this latest purchase.
The company is also trialling the impact of different fuel sources by running one of the largest HVO trials within Europe and has also adopted innovative data analytics processes to identify opportunities to reduce emissions – including training staff to operate machinery in a more efficient way.
Ross Hayward, Head of Assets and Commercial at Chepstow Plant International said: “This milestone is a testament to our commitment to nurturing long-standing relationships, both with our suppliers, and with our banking partners. The equipment finance team at HSBC UK are knowledgeable and supportive. We’re an ambitious organisation, and simply wouldn’t have been able to achieve this level of growth if it wasn’t for their support.
“As we strive towards supporting our valued customers in their net zero goals, the continued collaboration with Volvo, SMT and the bank will be vital to our success.”
Warren Lewis, Head of Corporate Banking Wales for HSBC UK, added: “We are pleased to support Chepstow Plant’s ambitious growth plans, industrial innovation and commitment to improving their processes, which sit at the heart of their business.”
Chepstow Plant International (CPI) is a privately-owned mineral and aggregates contractor, with over 50 years’ experience within the extractives sector covering quarrying, earthworks, material handling and managed fleet solutions. The business prides itself on being able to provide sustainable and practical solutions for resource extraction, whilst maintaining health and safety to the highest standards, moving circa 25Mt per annum, employing over 250 people nationally.