Hickling and Squires invest in new Heidelberg printing press with funding support from Lombard
Nottingham, April 23rd 2008 – Moorgreen based print solutions company Hickling and Squires have taken delivery of a new Heidelberg CD74 10 colour printing press, which signifies a major capital investment in their production process. Funding for the new £1.2million machine has been provided through a leasing facility arranged by the Nottingham office of Lombard, the asset finance provider.
Based at Moorgreen Industrial Park, Hickling and Squires is a state of the art commercial printing company that offers a total print solution for its clients. This includes providing services such as design consultancy, logistical support and product management to their national client base which includes major retail names, sporting organisations and higher education establishments.
The new Heidelberg machine sits alongside 6 other presses and is a major investment in their production process and provides a number of benefits to the company, not least an enhancement of their production capacity which in turn will make them more competitive in tendering processes.
Lombard have provided an operating lease facility over five years, which provides the company with the benefit of the asset, through a budgeted monthly payment amount which does not tie up the companies surplus cash flow in the purchase of the asset.
Commenting on the investment made by the company, Richard Wells, Managing Director at Hickling and Squires said:
"The new printing press is a major addition to our production capacity, and is evidence of our confidence in the business and our ability to continue to drive up the demand for our services. We continue to grow our customer base on an annual basis and we feel that with the enhanced production capacity that the Heidelberg provides us with, we will be in a stronger position to further grow our client list over a number of sectors moving forward."
Tom Adams, Relationship Manager, at Lombard in Nottingham who structured the operating lease added:
"Heidelberg is the leading name in print production, and the intention of Hickling and Squires is demonstrated by choosing a top of the range printing press to add to their production capacity. By structuring the purchase in this fashion they have also made the purchase in the most cost efficient manner, by not drawing upon their capital reserves which are used to support the ongoing day to day operations of the company."
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For more information, please contact:
Andrew Cameron-Smith
Senior Media Manager
Tel: + 44 (0) 7796 336292
Email: andrew.cameron-smith@rbs.co.uk
Notes to Editor:
Lombard is the asset finance division of UK Corporate Banking, part of The Royal Bank of Scotland Group
The Royal Bank of Scotland Group ("RBS Group") is one of the world's leading financial services companies. For the past four years RBS has consistently ranked in the top 10 global banks. RBS Group operates in Europe, the US and Asia Pacific serving more than 36 million customers world-wide and employing more than 140,000 people. In addition to the provision of a full range of banking services under The Royal Bank of Scotland and NatWest brands, RBS Group also includes Citizens Financial Group, Ulster Bank, Coutts Group, Direct Line and Churchill.
