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Waste bin firm gets help to stay top of the world
A WORCESTERSHIRE manufacturer of steel bins is expecting its turnover to rise to more than £26 million in the next 12 months after securing funding support from Lloyds TSB Commercial Finance.
Established in 1962, Egbert H Taylor and Company Limited designs, manufactures and supplies steel waste and recycling containers to corporate clients including Veolia and Biffa, as well as 80 per cent of the UK’s local authorities.
The Droitwich business, which trades as Taylor, has an annual turnover of £23 million and employs more than 160 local workers.
The company also exports its products worldwide to Africa, South East Asia and the Middle East, where extensive infrastructure building is creating high demand for quality waste containers.
In October 2011, equity investors led by Sullivan Capital Partners and Oakfield Capital acquired Taylors from ECI Partners, charting a new phase of significant development.
The firm has recently secured several new international contracts and Lloyds TSB Commercial Finance has supplied a £2 million facility to accelerate Taylor’s ambitious plans.
Colin Lewis, finance director at Taylor, said: “The waste industry has remained resilient throughout the economic downturn and our move into the international markets over the past two years has generated substantial growth opportunities for the business.
“We have established a strong relationship with the bank and the funding will help the business expand its export programme. This is vital as we continue to cement our position as one of the world’s leading supplier of steel waste containers.”