MANCHESTER RECYCLER RECEIVES £600k INTERRUPTION LOAN

Manchester-based scrapyard Automet Limited has secured a £600,000 Coronavirus Business Interruption Loan Scheme (CBILS) facility to support its cashflow during the crisis.

Smelters at Automet. Firm is to benefit from a Business Interruption loan

READ:  Scrappage will put garages out of business, warns parts supplier

Located on a two-acre site in Trafford Park, Automet is a metal-processing scrapyard and aluminium smelter, serving customers in the UK and Europe. Almost half the business’s sales are generated through international sales.

 READ: £25m BUSINESS INTERRUPTION LOAN FOR HALFORDS

At the outbreak of Coronavirus, the business saw a decline in activity, and had to place some staff on furlough however the firm now anticipates recovery.. The loan will enable the business to purchase large volumes of scrap aluminium car engines and ensure it is in a position to grow once restrictions are lifted. 

READ: CORONAVIRUS AND BUSINESS INTERRUPTION

Paul Humphries, a Director at Automet Limited, said: “The service we received from Santander was quick and extremely efficient and I would like to thank Luke for his support in assisting us with the application.”

 Luke Rowbotham, Relationship Director, Santander UK, said: “While the impact of Covid-19 has had a detrimental impact on businesses across the UK, this funding package will ensure that Automet is prepared to quickly resume business as restrictions are eased – and we are delighted to support them.”

This post was written by:

- who has written 476 posts on CAT Magazine.

Editor of CAT Magazine and an experienced motoring journalist

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