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December 9, 2009updated 12 Apr 2017 4:29pm

Lloyds TSB Commercial Finance provides £825k asset finance to carpet maker

Lloyds TSB Commercial Finance has provided £825,000 (914,000) in asset finance for carpet maker Axminster Carpets.

By Jason T

Lloyds TSB Commercial Finance has provided £825,000 (€914,000) in asset finance for carpet maker Axminster Carpets.

Lloyds’ asset finance package has allowed the manufacturer to invest over £2 million in a water treatment plant for its Buckfast factory, which will treat and recycle 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.

Previously, waste water from the manufacturing process would be discharged and treated by the local water authority, but Axminster Carpets’ new facility has been engineered to convert its waste water back to a level where it can be completely reused.

The residual waste is being converted to bio-fuel, with Axminster planning – in the long term – 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.”

Jason T Hesse 

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