Bedford-based NMT Crane Hire has purchased a new crane - Tadano Demag AC 160-5 with support from Mitsubishi HC Capital UK. The Tadano mobile crane will act as a versatile addition to NMT’s fleet as the business looks towards a brighter future, with plans to support large infrastructure and building contracts such as HS2, the construction of new shopping centres, hotels, and redevelopment projects.
NMT Crane Hire made the decision to invest in a Tadano Demag mobile crane to expand its rental fleet in mid-2019. However, the uncertainties of Brexit and the financial impact of Covid-19 led to an unexpected drop in turnover, leaving the business needing to delay the purchase.
Mitsubishi HC Capital UK evaluated the changes in circumstances faced by NMT Cranes and worked with them and Tadano to come up with a delivery timescale and a structured, yet flexible finance solution. The agreement enabled NMT Cranes to go ahead with their purchase, but in a way that the business was able to meet the payment terms of the seven-year agreement.
The Tadano Demag AC 160-5 crane is a valuable addition to the NMT Crane Hire fleet due to its compact size, manoeuvrability, and extended reach. The Tadano comes with a 5-axle steering system, independent rear axle steering, and dynamic launch control for improved accessibility in challenging conditions.
Tim Ambridge, Director of NMT Crane Hire, commented: “The AC 160-5 is a fantastic addition to NMT Crane Hire’s fleet, and has allowed us to focus on rebuilding the business after a difficult year. Mitsubishi HC Capital UK provided us with a quick, flexible and affordable solution, showing an understanding of our business and how we operate. The AC 160-5 marks the start of a promising year for NMT Crane HireiHir.”
Dilek Mackenzie, Managing Director, European vendor finance, added: “Our bespoke, specialist asset finance service was the perfect solution for NMT Crane Hire and allowed the business to expand its rental fleet during a challenging time. With this investment, we are signalling our commitment to supporting businesses throughout the ongoing economic uncertainties of the pandemic and Brexit, and we look forward to seeing the continued benefits the AC 160-5 can offer.”