Nearly 200 jobs are to be created in a multi-million pound expansion by an engineering business based in Pinxton.
Van Elle Ltd is the UK’s largest independent, specialist ground engineering contractor, providing services to clients operating in sectors that include housebuilding, infrastructure, energy renewables, retail, industrial and rail.
The firm, of Summit Close, already has a workforce of 430. But that will rise by almost 50% thanks to a significant phase of growth, backed by a £10.5 million funding package from Lloyds Bank.
Van Elle is to buy 11 acres of land next to its existing Kirkby site, enabling it to open a new head office, manufacture more products and create extra storage facilities. The new site is expected to be operational by the end of 2015, growing the firm’s annual turnover from £72 million to £100 million within two years.
The company has also secured £1.5 million of funding to buy the offices and yards in Pinxton and also Dereham, in Norfolk, which are currently leased. And to expand its presence in the rail sector, Van Elle has bought six new road rail vehicles, with six more to come, thanks to a £6 million hire-purchase agreement with Lloyds.
Van Elle chiefs are full of praise for the role played by Lloyds Bank in their expansion scheme. Finance director Paul Pearson said: “The bank’s support has played a fundamental role.
“We are now looking forward to increasing our manufacturing capabilities and welcoming new staff to the business, as well as growing our market share in the rail sector.”
For Lloyds Bank, Sally Johnson said: “The expansion is great news for the local economy. Being able to manufacture more of its own products will reduce costs for Van Elle. We are committed to supporting ambitious business plans for growth.”