UK Export Finance assistance bolsters Wiltshire-based naval management and disposal firm’s working capital
UKEF guaranteed Leafield Logistics a £2.4 million General Export Facility to free up funds and help the company’s expansion.
Employing fifteen workers, the Chippenham-based company assists NATO and partner navies by strengthening its maritime defense systems.
Leafield has secured several significant contracts in the past year and wants to pursue other export contracts with the assistance of UK Export Finance (UKEF).
A naval management and disposal company based in the South-West has received £2.4 million in government funding to extend its operations in overseas markets.
With UKEF’s support, the company, which was founded 30 years ago and has established partnerships with 16 multinational fleets worldwide, intends to expand its reach and depth in the coming years. Currently, exports account for more than 90 percent of the company’s operations.
Leafield Logistics was founded to oversee the disposal of redundant naval hardware from the British Ministry of Defense. Three decades later, the company provides the warships of NATO and allied nations with the necessary parts and ensures that their equipment is safe and effective.
This covers supply chain management, the repair of ship components, the development of solutions, and general consulting.
The financial backing will strengthen the company’s working capital cycle, allowing them to handle more international transactions and accept larger contracts, which would otherwise strain its working capital. UKEF’s assistance has already assisted the company in securing a contract to replace the gas turbines on two NATO warships.
Minister of Commerce Marcus Fysh stated:
The United Kingdom has a lengthy history of naval defense and is home to some of the industry’s top professionals. This government-backed boost for Leafield as they seek to promote international trade and grow their operations is fantastic news – supporting local employment and bolstering our allies’ naval capabilities.
The managing director of Leafield Logistics & Technical Services, Jon Webster, stated:
Our business is worldwide by its very nature. UKEF’s assistance has strengthened our cash flow, allowing us to continue bringing British naval experience to the rest of the world, whether through the procurement of spare parts, manufacture, or the development of solutions.