RC Tuxford boosts fleet with funding
Commercial vehicle exporter RC Tuxford is planning to invest heavily in its production equipment after securing a finance package from HSBC.
The Nottingham-based company said it will use the cash injection to purchase an overhead crane after demand to processes heavy vehicles increased.
RC Tuxford has hired an additional ten members of staff in the past 12 months and has grown its turnover to £22m.
Founded by Richard Tuxford in a portable office cabin in his father's yard, the company now occupies a 24-acre site in Nottingham.
The HSBC team, led by senior commercial manager Rod Whitehead, sorted out the financing package and is to continue to provide support to the business, including international accounts as the company pursues global expansion plans.
Richard Tuxford, director of RC Tuxford Exports, said: "The funding that HSBC supplied will enable us to expand our capacity and output, meaning we can pursue our growth strategy and build on the success of recent years. HSBC’s expertise and global connectivity is an important part of our relationship and our continued business success."
