EP Industries Ltd has secured £500k investment from the national Rail Supply Growth Fund to enable the development of a pioneering new facility in Alfreton, Derbyshire, creating five new skilled jobs and safeguarding an additional 10.
The firm, which specialises in the servicing of a range of road rail vehicles (RRVs) and pile-drivers, will use the new facility to broaden its service offering to include the testing, upgrading and repair of new and existing RRVs. The site, which will be capable of delivering all RRV services on location, is the first of its kind in the UK.
Commenting on the deal completion, Eddie Pilsworth, Managing Director at EP Industries, said:
“In order to become a world leader in rail, the UK must make considerable improvements to its supply chain. The first step in this journey is ensuring that all those involved in rail maintenance are equipped with the most reliable and efficient machinery available – something that we hope to achieve by incorporating all elements of an RRV’s servicing into a single facility.
“The funding provided by the Rail Supply Growth Fund will help us to save our clients valuable time and resources, as we’ll be able to support them with an end-to-end service, ultimately minimising any disruption to customers caused by poorly tested vehicles breaking down on our rail network.”
Playing an important role in meeting the Rail Supply Group’s “Fast Track to the Future” strategy – a proposal to boost UK rail sector productivity and improve passenger experience – the facility will include replica ground track, an elevated railroad and station crossing rigs, meaning its RRVs will be tested in the same conditions as on the UK’s rail network. Construction began in 2017 and the 5.9-acre site is set to be operational by mid-2018, allowing the firm to increase its capacity and service increasing demand from domestic and international rail markets.
The national Rail Supply Growth Fund is available to businesses across England, managed by Finance Birmingham and supported by central government. It provides loans and grant funding to businesses offering services and products that operate in or cross-over into the rail industry.
Jack Glonek, Investment Director at Finance Birmingham, added:
“This deal is a great example of where Finance Birmingham has helped a truly innovative company capitalise on the increasing opportunities emerging in the rail sector. By developing this new facility, EP Industries and its expert team, will be able to take its excellent service to a new level - unlocking further productivity in the rail supply chain and making a real positive impact in improving passenger experiences.
“With stage-one of the facilities development already completed and the site ready to begin operating mid-2018, this is an exciting new chapter for the business and we look forward to seeing how it brings about fresh innovation across the rail sector.”