in Plant News
Rabbit Waste Qualifies For Deals With Support From Hitachi Capital
Sussex-based Rabbit Group has invested in a new shredder – UNTHA XR3000C Mobile – as well as vehicles and construction equipment for its waste management and plant hire businesses, thanks to the support of Hitachi Capital European Vendor Solutions (HCEVS).
With the help of HCEVS, Rabbit Group successfully applied for the Coronavirus Business Interruption Loan Scheme (CBILS) to enable business continuity during a challenging period, as well as enable investment for the future.
Rabbit Group typically replaces its equipment every three years, using finance to make these purchases. Before the pandemic, Rabbit Group had never had any issues with bank-based funding, but when construction sites shut down last March, its plant hire arm faced a significant downturn in business.
To allow the Group to purchase the necessary assets for business continuity, the business identified CBILS as an ideal solution. HCEVS recognised the change in circumstances faced by Rabbit Group and was able to provide them with access to the CBILS. Rabbit Group qualified for two CBILS hire purchase deals – one enabled it to invest in a new shredder and vehicles for its waste management business; the second brought in new construction equipment for its plant hire company.
The UNTHA XR3000C Mobile shredder is a valuable addition to the Group due to its electromechanical UNTHA Eco Drive, capable of generating a high throughput rate of up to 25t/h. Unlike traditionally powered machines, the electric-powered UNTHA will allow Rabbit Group to shred sustainably, with significantly reduced noise, to produce alternative fuels such as biomass, RDF and SFR.
Peter Gilmartin, Finance Director of the Rabbit Group, commented: “The assets Hitachi Capital has enabled us to purchase are vital for securing the future of Rabbit Group. Hitachi Capital European Vendor Solutions took an interest in our business goals, was responsive to our needs, and worked hard to ensure we got the best deal. The security offered by the CBILS has allowed us to focus on rebuilding the business after a difficult year, and we are looking forward to putting our latest purchases to the test.”
Dilek Mackenzie, Managing Director, Hitachi Capital European Vendor Solutions, added: “We were delighted to support Rabbit Group through its successful CBILS application and the subsequent purchase of new equipment. In particular, it’s fantastic to see that the investment has gone towards an eco-friendly mobile shredder, reinforcing Hitachi Capital UK’s commitment to supporting businesses working towards a green future.”
Michael Brooks, Vendor Account Manager, Hitachi Capital European Vendor Solutions, said: “Our specialist asset finance service was the perfect solution to help Rabbit Group secure the CBILS. The two hire purchase deals helped keep the business on its feet during a period of uncertainty and it was crucial they had the government’s support to help them through the impact of the pandemic.”