A £750,000 investment in new equipment and job creation has been made by a Teesside crane hire business as part of a fleet upgrade.
Two new cranes – a 50 tonne and a 60 tonne – have been acquired by J Hewitt Crane Hire Ltd, Middlesbrough, after gaining backing from Yorkshire Bank’s Tees Valley Financial Solutions Centre (FSC), Stockton, through the bank’s Investing for Growth initiative.
Two new jobs – drivers for each new crane - have also been created by J Hewitt Crane Hire, Teesport Commerce Park, which serves a wide range of businesses throughout the North East and North Yorkshire, particularly in the chemicals, construction, oil refinery and shipyard sectors.
Founder and managing director, John Hewitt, 64, said: “We are in a high-capital investment industry and these latest investments are part of a continuous upgrade of our 32-strong fleet of telescopic cranes. We’re long established with a loyal regional customer base. These latest investments are part of looking after customers’ needs so that we can grow together when the economy improves.
“As a service business, we do not qualify for Government help and all investments and job creation must be made from our own money. We have switched to Yorkshire Bank because they had funds available to support us and are understanding and straightforward to deal with.
“In spite of the tough economic climate, we’re fortunate that someone always needs something moving or lifting and no one in this area is stronger than we are. We could have sold this company 20 years ago and settled down to a good life but it is important to keep going for our customers and our employees who depend on us for their living.”
J Hewitt Crane Hire, which John Hewitt founded with his wife, Norma, a director and company secretary, in 1980, hires cranes for use in all terrains and operates between Newcastle and York. The company has 42 staff and a £1m plus turnover.
Yorkshire Bank Tees Valley Financial Solutions Centre business partner, Paul Wells, said: “Yorkshire Bank North East Team is very much open for business with money to lend which is allowing us to attract well-known North East enterprises such as J Hewitt Crane Hire and we’re pleased to be supporting their investments in the North East economy.”
Yorkshire Bank’s Investing for Growth initiative enables businesses to take loan repayment holidays, interest-only repayments and extended loan and credit terms to support quality growth opportunities. Businesses taking up the package can re-invest the cash into their operation for expansion, new staff, equipment, machinery and commercial development.
Yorkshire Bank Tees Valley FSC is part of Yorkshire Bank’s North East Team which also includes Newcastle FSC and comprises 70 staff working in multi-discipline teams encompassing corporate banking, private wealth management, treasury services and credit and operates a traditional method of banking with funding from deposits used to support investments in the local community.