McDowells gets glowing endorsement from HSBC as it funds new fleet additions
Keighley-based TPN MemberR McDowell Haulage & Distribution is expanding its haulage fleet with two new 18-tonne Mercedes-Benz Euro 6 HGVs.
Pleased as the company is by the new additions, which will help to scale up capacity for its ever growing customer base, McDowells says the deal also shows the confidence its bank has in the business, which is significant in times of economic uncertainty.
“We’ve been given a six-figure funding package by our bank, HSBC for these vehicles and we are extremely pleased that they are so willing to invest in us. Transport is often one of the first sectors to lose the confidence of the finance community when there is economic uncertainty, and in our experience banks only stay with those businesses they know are 100% solid,” says MD Joe Balmforth.
With an expanded fleet, McDowell is expecting to increase turnover by 3 per cent over the next 12 months. Its strategy will also allow it to capitalise on its expertise in contract logistics and palletised freight distribution, while taking advantage of new, emerging markets.
Anthony Wild, relationship director for West & North Yorkshire, HSBC UK, says: “McDowell has an excellent reputation across the UK for providing a reliable service with an emphasis on fantastic customer service. Using a combination of expertise and resource, the business has developed an effective distribution network that can be trusted. We’re delighted to be supporting the business as it goes from strength-to-strength.”
McDowell is a long term Member of TPN, and one of the leading distribution companies in Yorkshire. Director Geoff Hirst says: “This is the start of an exciting new chapter for the company. In recent years we have found ways to ensure the longevity of the business, whether it be installing satellite tracking of goods for customers or investing to upgrade our fleet to the latest emissions standard.
“Like the TPN network, we are constantly evolving and developing new solutions for our customers, who deserve complete reliability, stability and satisfaction from their transport partners. We’re proud to give them that.”
McDowell has been trading for more than 40 years, has over 100 vehicles in its fleet and employs 150 staff across all operations. The business has over 100,000 sq ft of high-security warehouse space across multiple sites in Keighley.