A Cardiff recycling plant has imported a £1 million machine which will allow it to double its capacity.
Bayliss Recovery worked with NatWest relationship director Adrian Coles to put together a package of funding facilities which allowed the firm to purchase the shear press from France.
The new kit is specifically designed for the compacting and shearing of heavy and bulky scrap. The previous shear press used by Bayliss at its plant on Tremorfa Industrial Estate could process 14 tonnes per hour. The new machine is already processing 25 tonnes an hour and will reach at least 30 tonnes per hour when working at full capacity.
Directors David and Andrew Bayliss needed to find a way to fund the purchase of the shear press until it was imported and financed by Lombard Asset Finance.
Adrian introduced them to RBS Invoice Finance, who funded the deposit. Then he introduced them to NatWest Markets who helped them to book a foreign exchange rate which gave them certainty over the price of the machinery. Finally NatWest Transaction Services put in place a £420,000 Capital Import Finance facility to bridge the funding gap between paying the supplier and the machine being imported.
This solution was recommended because it had been created specifically for businesses acquiring machinery from abroad. Lombard Asset Finance repaid the trade loan facility once the machine was imported.
“Adrian understands our business and our aspirations well, and the fact he had all of these contacts to hand meant it became a seamless process.
“The new shear press makes us much more efficient and reduces our energy consumption. Our staff no longer have to work shifts and the new kit has freed them up to do other tasks.”
“The facilities we were able to put in place made a potentially complex purchase very straightforward and meant that David and Andrew were able to manage the risk and get support from our experts every step of the way.”
Bayliss Metals also has plants in Bridgend and Ogmore Vale and employs 38 across its three sites.