Northern Ireland based waste recycling equipment exporter, Environmental Marketing Solutions Ltd (EMS), was founded in 2006 to design and manufacture recycling equipment used to recover valuable waste by-products which would otherwise go to landfill. Since then, the firm has expanded its business from County Tyrone across the UK and overseas, including to Ireland, other European nations, Africa, and the Middle East.
Having won their first Israeli contract, EMS needed the support of a bank in order to issue a guarantee against its customer’s advanced payment upon contract sign-off.
Santander was able to provide facilities to EMS that allowed it to issue an Advanced Payment Guarantee for the full amount of the up-front payment without the need for EMS to fully cover the Guarantee. In addition and critically for this project, the funding package included working capital during the “build” cycle.
By seeking approval from UK Export Finance’s Bond and Guarantee Support Scheme and its Export Working Capital Scheme, Santander was able to achieve 80% support for the project.
Harry McCourt, EMS Managing Director commented, “Without the support offered by Santander who were willing and able to work with ourselves and UK Export Finance, we wouldn’t have been able to take on this contract. This in turn would have meant that we wouldn’t now be in the position to provide this customer with additional lines and the increased revenue that this generates.”
Jamie Foulkes, Relationship Director at Santander Corporate and Commercial stated, “As a business we were keen to support Harry, who is a global doyen in this market. By understanding the business needs of EMS, we were able to deliver an innovative solution that its existing bank wasn’t able to offer.”
Simon Huntley, International Director at Santander Corporate and Commercial Bank added, “Working with UK Export Finance enables Santander to assist Northern Ireland exporters in a way that many other banks can’t. This has allowed us to not only win over EMS as a valued customer, but also ensures Santander’s contribution to increasing UK exports through support for businesses like EMS.”
Santander Corporate and Commercial provide innovative cash flow solutions for businesses that export.
The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions.
Notes to editors
For Santander Corporate & Commercial media enquiries, please contact:
Andy Smith 020 7756 4212 Mobile: 07824 473 338
The Santander Corporate & Commercial press office operates from 8.00am to 6.00pm. Outside of these hours please call 0800 5877708.
When you’re an established business, recruiting top talent in all the areas you need can seem like a never-ending challenge.
If you’re a start-up or small business, how can you put together an attractive employee package to appeal to top talent – graduate and…
More than one million incidents of financial fraud occurred in the first six months of 2016, according to official figures released by…
Santander’s Head of SME International Mark Collings discusses why exporting to new global markets may provide businesses with new and…