Glenrothes, June 2009 – Fife-based coach operator Moffat & Williamson Ltd has embarked on the latest stage of its investment programme having secured a refinancing package worth £3m from The Royal Bank of Scotland (RBS) and its asset finance division, Lombard.
The company is committed to a rolling programme of investment in its fleet, which currently consists of 63 vehicles, a mixture of luxury school buses, service vehicles and luxury coaches. Four vehicles have been acquired to date this year, with another three to join the fleet by the end of 2009, two of which are due to be delivered in August.
The vehicles are employed in servicing a number of contracts Moffat & Williamson holds with private tour companies such as David Urquhart Travel and Glenton Tours, and for the provision of school travel on behalf of Fife Council. The firm was recently awarded a new five-year contract to provide bus services to and from schools in north Fife, including St Andrews and Cupar. It was awarded a similar five-year contract for central Fife schools in August last year.
Moffat & Williamson employs 85 people, with the workforce split almost equally between the firm's two depots in Glenrothes and Newport-on-Tay, both of which boast workshop facilities and teams of mechanics. The company was formed in 1978 when Cardenden bus firm James Moffat & Sons merged with Williamsons of Gauldry, both of which had been established in 1945. The amalgamated firm remains a family-run business to this day, with the Williamson family now responsible for running the company it has wholly-owned since March 2008.
Moffat & Williamson is investing in its people as well as its fleet, having established its own driver training school this year. The firm's drivers can now achieve the industry's best-practice award – Certificate of Professional Competence – via an in-house training course delivered by the firm's own dedicated training provider.
JP Williamson, director of Moffat & Williamson, said: "The latest contract win was another piece of good news in what has already been a good year for Moffat & Williamson. In addition to our school and holiday tour contracts, we have continued to pick up new business in other areas, such as local authority services, golf tours, airport transfers, and wedding transport.
"With the safety and comfort of our passengers of paramount importance to our business, it is vital that we invest in our fleet on an ongoing basis. That continuous investment would not be possible without the finance being provided by RBS and Lombard so we are naturally very pleased to working so closely with them.
Bryan Johnston, relationship director, RBS Business & Commercial Banking in Fife, said: "Moffat & Williamson is an impressive business which has a first-class approach to its customers. The firm's refusal to rest on its laurels by committing to an ongoing programme of investment in its vehicles is indicative of the management team's desire to remain at the top end of the market by constantly looking for ways to deliver excellent customer service."
David Toole, Lombard sales director, Scotland, added: "Lombard is delighted to be supporting this highly professional and forward-thinking company. We believe this investment will serve the firm well for some time to come.
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The Royal Bank of Scotland Group:
The RBS group is a large international banking and financial services company. Headquartered in Edinburgh, the Group
operates in the United Kingdom, Europe, the Americas and Asia, serving more than 40 million customers. The Group
provides a wide range of products and services to personal, commercial and large corporate and institutional customers
through its two principal subsidiaries, The Royal Bank of Scotland and
NatWest, as well as through a number of other well
known brands including, Citizens,
Ulster Bank,
Coutts,
Direct Line and
Churchill.
