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August 1, 2009updated 12 Apr 2017 4:34pm

Successful month for Lombard

Lombard has had another successful month, having signed a £12 million (14 million) deal with the Automobile Association (AA) to supply 167 recovery vehicles. The asset finance company, which has already provided the AA with around 2,400 assistance vans and other types of vehicles, will supply the new vehicles between now and the end of 2010 under a five-year operating lease agreement. Last month, Lombard also signed a £3 million coach deal with Moffat & Williamson, a Scottish coach operator, to renew its fleet

By Verdict Staff

Lombard has had another successful month,
having signed a £12 million (€14 million) deal with the Automobile
Association (AA) to supply 167 recovery vehicles.

The asset finance company, which has
already provided the AA with around 2,400 assistance vans and other
types of vehicles, will supply the new vehicles between now and the
end of 2010 under a five-year operating lease agreement.

Last month, Lombard also signed a £3
million coach deal with Moffat & Williamson, a Scottish coach
operator, to renew its fleet. The Fife-based coach operator has
launched a rolling programme of investment in its 63-strong fleet,
made up of school buses, service vehicles and luxury coaches, and
intends to acquire more vehicles.

Separately, Lombard also announced that
it had financed a £0.5 million Heidelberg press for Provincial
Printing & Publishing, a Cardiff-based printer. The deal was
financed through the NatWest and RBS SME Regional Fund, which is
making £250 million of funding available to SMEs in Wales in
2009.

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