Business & Economy
Funding support means growth for plant hire firm
August 6, 2021
A Teesside plant hire firm is scaling new heights after winning funding to purchase new equipment.
Foster Plant Hire, which is based on Wilton International Centre, Redcar, has been providing equipment to the construction industry, councils and the Highways Agency for 35 years.
It has recently bought two new pieces of equipment worth a total of £89,000, in a project that will also create five new jobs on the back of the investment.
Co-director of the firm Allan Foster said: “We’ve received £48,000 in funding, which will go towards the cost of a new forklift truck and JCB, meaning we can take on hire jobs that we would previously have had to turn down.
“We’ll also be taking on some new team members to add to our existing eight; three plant operators, a yard worker and an apprentice.”
The firm received funding from a Tees Valley growth hub thanks to support from Middlesbrough-based Nudl, business support consultancy.
Chief Nudl Shak Asghar, who launched the company earlier this year, said: “We know that searching and applying for funding can be daunting, not to mention time-consuming.
“We’re here to support firms like Foster Plant Hire, who want to grow but need a little help to access the cash they’re entitled to.
“We love to work with local businesses here on Teesside, so we’re delighted to have helped Allan and the team secure this significant investment.”
Allan added: “This funding means we are able to expand without taking on more debt, which is very important to us.
“The help the Nudl team provided was invaluable, they made the whole process so easy from start to finish, and we can’t wait to get to work with the new equipment.”
The grant was accessed through the Tees Valley Growth hub at TVCA and it is part funded by the European Regional Development Fund.
For more information about Nudl, visit www.nudl.co.uk
For more information about Foster Plant Hire, visit www.fosterplanthire.co.uk/