Connect with us
Advertisement
Advertisement

Business

Genpower boosted by new funding package

Published

on

GENPOWER, the Pembrokeshire-based UK distributor for Hyundai Power Equipment, has secured a £750,000 finance package from HSBC.
The company are forecasting strong revenue and say that more jobs will be created as a result of this new funding.
Genpower have ambitious growth plans and the money from the bank’s South East Wales Commercial team will support them in their development.
After signing a deal to become Hyundai’s only distributor of its power equipment range across the UK and Ireland, the Milford Haven-based company plans to increase its turnover by 50% over each of the next two years and to nearly double staff numbers from 22 currently to 40.
The contract was initially secured to distribute Hyundai petrol and diesel powered generators, high pressure washers, compressors and water pumps on a wholesale basis, but the latest deal sees the company also assume responsibility for the sale of a wide range of Hyundai garden machinery.
The new agreement opens up a significantly larger market and Genpower plans to grow and become a major supplier of power tools in the coming years.
Turnover at the business is forecast to hit £3.1m this year, up from £1.7m in 2012.
The finance package provided by HSBC includes trade finance facilities to support the import of stock from Hyundai and invoice finance facilities.
The deal was led on behalf of the bank by international commercial manager Anthony Couzens.
Genpower was established in 2006 by managing director Roland Llewellin following the sale of his haulage business. He initially focussed on selling its own brand power tools and generators, Evopower. It established its relationship with Hyundai in 2008 and switched to a wholesale model last year.
Mr Llewellin said: “Our relationship with Hyundai has grown steadily since 2008 and we are now responsible for distributing their entire range of power equipment across the UK and Ireland. This will move the business forward significantly and we aim to grow our turnover by 50% over each of the next two years.
Having a finance facility to support our growth plans is important and that is why we are pleased to have secured this latest package with HSBC.”
Roger Pratt, HSBC South East Wales area commercial director said: “Genpower required a finance package that facilitated the increased level of stock they would be importing from Hyundai, whilst also establishing an invoice finance line that would enable it to offer its customers suitable credit terms.
“We were able to put together a facility that met the customer’s needs and we look forward to working with Genpower over the coming years.”

Continue Reading

Business

Old barracks promised new lease of life

Published

on

THE COMPANY which has purchased the iconic defensible barracks in Pembroke Dock have promised to breathe new life into the historic building.

The grade II fort was built in the Victorian era to provide a military defence to the Royal Dockyard. It was recently sold for an undisclosed sum to VR1844 Ltd. The company directors are listed as Jonathan McDermott, Emma Jane Morby, Lai Hang Seto, and Iain Trevor Walker.

VR1844Ltd office manager Tanya McDermott said: “VR1844 believe people never truly own a building but are the buildings guardians for a period of time.

“Taking the view that it is only the right development for the right building at the right time it is our privilege to bring the building back into life, repair, nurture and give back to the local community, not to shut the main doors and lock the building away from people who are interested in it and its history.

“VR1844 Ltd who have brought this very under-loved and not looked after building, want to bring the buildings back into life with a mix of community uses, together with a number of dwellings that will breathe life back into the buildings.
“To do this VR1844 are already working hard with CADW, Pembrokeshire County Council and local councillors to bring forward a scheme that all parties can support, and the community can once again be proud of.”

Continue Reading

Business

Air Link Wales now flying from Haverfordwest

Published

on

AVIATION company Flitestar Private Air have launched their new Air Link Wales Programme connecting Haverfordwest, Caernarfon and Cardiff with other regional airports in the UK and Europe.

The company has opened an office in Menai Bridge on Anglesey – managed by James Blackler – and said it is particularly committed to improving air connectivity from North Wales.

The Air Link Wales network currently offers flight charter services from Caernarfon Airport to destinations such as Isle of Man, Glasgow, Edinburgh, Southampton as well as London for connections to and from Gatwick and Heathrow.

They believe Southampton will be particularly popular for passengers connecting to cruises who wish to avoid the long road or rail trip down south.A flight to the south coast for two passengers from Caernarfon would cost £1,820 per person on a Piper PA34 Seneca plane.

Neil Baines, CEO of the Chester based company, said: “As a resident of Wales myself, I’ve often been frustrated by the lack of air connectivity and we are pleased to start to address this through our new Air Link Wales Charter programme which is ideally suited to both leisure and corporate customers.“Flying private can save hours of travel time which is of particular value to Wales-based organisations.”

Continue Reading

Business

Tesco grant boost for Milford Haven children

Published

on

AN ORGANISATION working with children in Milford Haven has received a £3,425 grant from a special costal voting round of Tesco’s Bags of Help scheme.
The grant for Clybiau Plant Cymru will go towards delivering workshops and out-of-school childcare clubs that encourage children to play outdoors and connect with nature in coastal areas.

Alex Fudge, the Regional Manager for Clybiau Plant Cymru said the funding will help combat issues of childhood obesity in Wales, giving children the opportunity to play freely and get active away from distractions such as social media.

“We’re truly grateful to Tesco for its support and funding through the Bags of Help scheme,” she said. “We aim to promote health, wellbeing and environmental awareness through fun, outdoor activities, so every donation has a huge impact on kids’ lives.

“The clubs provide valuable play and learning opportunities outside of the school day, enabling parents to work and train, which in turn drives economic growth, tackles poverty and reduces inequalities.”

“Through the funding we are delivering 20 workshops within clubs in the Milford Haven area to children and our staff,” she added. “It will engage up to 340 individuals, as well as providing skills and knowledge which staff can apply on an ongoing basis to provide quality childcare for years to come.”
Tesco shoppers in Milford Haven cast their votes using blue tokens handed out at checkouts as part of the special voting round supporting groups in 42 coastal communities across the UK. More than 100 projects working to improve Britain’s coastline shared the combined funding pot worth £300,000.
Bags of Help, run in partnership with the charity Groundwork, sees funding awarded to thousands of local community projects every year. To date £80m has been awarded through the scheme, with more than £5m awarded to projects in Wales.

Claire de Silva, Tesco’s Head of Community, said: “Bags of Help has been a huge success since we introduced the scheme and we are glad to be able to support great projects, including this coastal scheme in Milford Haven.

“We saw a fantastic mix of projects shortlisted and I’d like to thank customers for casting their votes and supporting these important initiatives in their community.”

The scheme is ran in partnership with community charity Groundwork. Groundwork’s National Chief Executive, Graham Duxbury, said: “Bags of Help continues to enable local communities up and down Britain to improve their local spaces and the places that matter to them. We’re pleased to be able to be a part of the journey and provide support and encouragement to groups enjoying, protecting and improving Britain’s coastlines.”

Continue Reading
News19 hours ago

Town councillors object to hotel on health and safety grounds

TOWN COUNCILLORS in Milford Haven have unanimously voted to object to a planning application my Milford Haven Port Authority to...

Community19 hours ago

Start your career with the RNLI

THE RNLI is in search of new recruits to spend a season working on some of west Wales’ most popular...

News20 hours ago

Hook: Police name 13-year-old who sadly passed away last week

POLICE have named the pupil at Haverfordwest High who passed away on Wednesday last week (Jan 22.) A spokesman told...

Community20 hours ago

Top marks for Ysgol Casmael

YSGOL CASMAEL in Puncheston are celebrating after being given an excellent report by school inspectorate, Estyn. The rural north Pembrokeshire...

News2 days ago

Fishguard: Stiff sentences for £240 million drugs haul

TWO men who hid £60 million worth of cocaine on a yacht travelling from South America to the UK have...

News5 days ago

Narberth: ‘My mum’s camper was stolen and found burned out down the road’

A CAMPER VAN stolen on Thursday night in Narberth was found burned a short distance from where it was parked,...

Community5 days ago

Dairy challenges Pembrokeshire kids to win £1,000 for their school

ECO-FRIENDLY kids in Pembrokeshire are being urged to get creative with recycling and win their school £1,000. The call comes...

News5 days ago

Hook: Police and school confirm death of boy, 13

POLICE are investigating the sudden death of a 13-year-old boy from Hook on Wednesday (Jan 22) A police spokesman told...

News6 days ago

No action at Cardiff Airport over virus

THERE were no checks or screening at Cardiff airport this morning (Jan 23) as international concern continues to grow about...

Education1 week ago

No opt-out for learning about religion, relationships and sexuality

PARENTS will not be able to prevent their children from learning about religion, relationships and sexuality in the new curriculum....

Popular This Week