Cash funds Harry Needle expansion
Staveley-based Harry Needle Railroad Company (HNRC) has increased the size of its rail fleet after clinching funding from Lombard.
The North Derbyshire business has bought three British Rail built shunting locomotives and is set to base them at its Barrow Hill Shed depot. HNRC now owns and operates more than 110 locomotives.
HNRC specialises in spot hire services – providing locomotives, stock and crew to other companies operating within the rail industry. These include businesses that need to move freight and other goods by rail such as Lafage Cement, Tata Steel and Bardon Aggregates.
Harry Needle, owner of HNRC, said: "We provide spot and contract hire services to customers throughout the country and pride ourselves on being able to quickly respond to each request. We can only achieve this by regularly investing in our fleet to ensure we have enough locomotives available to meet customer demands."
Lisa Kershaw from Lombard, part of RBS, and John Paulson from NatWest provided the company with a £72,000 asset finance loan to part fund the purchase.
