- UKEF has guaranteed a general export facility worth £2.4m to Leafield Logistics to free up cash flow and support business growth
- The Chippenham-based company, which employs 15 people, serves NATO and allied navies by improving their maritime defense systems
- Leafield has secured several major contracts over the past year and plans to pursue further export contracts with support from UKEF
A South West-based ship management and disposal company has secured £2.4m government-backed support to expand its operations in international markets.
Established 30 years ago, the company has relationships with 16 international navies around the world and, with support from UKEF, plans to extend its reach and depth in the years to come. Exports currently represent more than 90% of the company’s activities.
Leafield Logistics was originally established to manage the disposal of surplus naval materiel from the UK Ministry of Defence. Three decades later, the company is working with NATO and allied navies around the world to supply the parts they need and ensure their equipment is safe and effective. This includes supply chain management, ship component repairs, solution development and global consulting.
The financial support will strengthen the company’s working capital cycle to enable it to support more transactions internationally and take on larger contracts that would otherwise stretch its working capital. UKEF support has already helped the company win a contract to replace gas turbines on two NATO naval vessels.
Trade Minister Marcus Fysh said:
The UK has a long history of naval defense and is home to some of the best skills in the industry. This government-backed boost for Leafield as they seek to expand international trade and expand their operations is great news – supporting local jobs and bolstering the naval capabilities of our allies.
Jon Webster, Managing Director of Leafield Logistics & Technical Services, said:
Our business is international in nature. UKEF’s support has helped us to strengthen our cash flow so that we can continue to bring British naval expertise to the rest of the world, whether through spare parts supply, manufacturing or our solutions.