Commercial Finance Specialists

Lloyds TSB Commercial Finance has provided £825,000 in asset finance to carpet maker Axminster Carpets.

The asset finance package set up by Lloyds has given the manufacturer the opportunity to invest more than £2 million into a water treatment plant for its Buckfast factory, which treat sand recycles waste water at the South Devon spinning mill.

“It is great to see a company that is still placing emphasis on sustainability,” said Mike Greaves, area director at Lloyds TSB Commercial Finance.

The waste water from the manufacturing process was previously discharged and treated by the local water authority, but the proposed facility from Axminster Carpets has been engineered to convert the current waste water back to a standard which will allow it to be safely reused.

The residual waste is being converted to bio-fuel, and long term plans by Axminster will be to use the fuel to power its lorry fleet and plant.

“The launch of the treatment plant is a considerable achievement for us,” said Axminster’s finance director, Tony Biggs. “It will not only enable us to operate more efficiently, but also sustain higher volumes going forward.”