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.”

Published by GregWhitaker

Editor of CAT Magazine and an experienced motoring journalist

NEW HOME FOR ABSOLUTE ALIGNMENT

Firm moves to new, larger Aldershot HQ

Read More

AXALTA COMPLETES U-POL ACQUISITION

Deal for body consumables company valued at $590m

Read More

CAZOO ACQUIRES SMH, DOUBLING REFURB CAPACITY

£70m deal vastly expands the retail start-ups preparation and logistics capability

Read More

AUTOMECHANIKA DIGITAL PLUS HAPPENING NOW

Automechanika Frankfurt is underway in a limited physical form at the Messe Frankfurt showground as well as online through a ‘Digital Plus’ form, a combination known as a ‘hybrid’ event. READ: AUTOMECHANIKA B’HAM TO HOLD 2022 […]

Read More

SUPPLIER NEWS: APEC BLACK IN AT PARTS IN MOTION

Bristol-based supplier’s premium brand now in at online retailer

Read More

Go to comments

Your email address will not be published. Required fields are marked *