RBS leasing arm Lombard has played a part in the provision of
£2.5 million (€2.8 million) of Enterprise finance Guarantee (EFG)
funding to polystyrene foam manufacturer Moulded Foams.
In another demonstration that the UK’s biggest lessor has turned
its focus squarely on RBS group customers, Lombard has transacted
the deal in conjunction with NatWest, with which Moulded Foams had
an account.
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According to a statement, the new facilities will “provide
working capital to enable the company to reduce overheads through
better purchasing power and dovetailing repayments to meet future
cash flows.”
As part of the EFG scheme, the government will guarantee some 75
percent of the lending.
Moulded Foams manufactures expanded polystyrene and expanded
polypropylene foams at three sites in Tonypandy, Scunthorpe and
Cumbernauld. The company has grown annually, and acquired a
subsidiary of packaging producer Linpac in 2007.
Fred Crawley
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