RBS asset finance arm Lombard has provided
€397,000 of finance to Welsh civil engineering and demolition
contractor The Cuddy Group.
€397,000 of finance to Welsh civil engineering and demolition
contractor The Cuddy Group.
The deal is for the acquisition of equipment to
service a contract with construction materials manufacturer Cemex
at Wenvoe Quarry, Cardiff.
service a contract with construction materials manufacturer Cemex
at Wenvoe Quarry, Cardiff.
The equipment, which includes an imposing stone crusher and
screener, will process up to 10,000 tonnes of stone per week, and
has entered service on a five-year hire purchase facility, at the
end of which Cuddy will take full title to the asset.
The fixed interest rate facility will be paid off in 10 percent
instalments, with VAT upfront. Administration fees for the deal
stand at 1 percent.
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It is understood that the deal was written and executed within a
week of first contact between Cuddy and Lombard.
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