Power Jacks enters new markets with UKEF support

About the transaction: Power Jacks
Region Aberdeenshire
Sector Manufacturing
Project location Multiple destinations
UKEF support Bond Support Scheme

Power Jacks is a leading design and manufacturing company, providing electro-mechanical lifting solutions for use in a range of sectors, including civil engineering, energy and transport.

The company exports to 80 countries from its base in Aberdeenshire. Over the last 20 years, exporting has become increasingly important for Power Jacks, with Asia becoming one of its biggest markets – 60% of the company’s business is now destined to go to overseas clients.

Exporting to the Middle East can present challenges for credit and cash flow, with an increasing demand for advance payment guarantees, performance bonds and warranty bonds to secure contracts.

The facilities offered by banks on these advance payments and bonds are often unfavourable. At the same time, cash conversion cycles in the Middle East and Asia can be 150 days long. The resulting strain on cash flows can deter many companies like Power Jacks from exporting.

Our Bond Support Scheme has proven an ideal solution for Power Jacks. Through the scheme, we have underwritten up to 80% of commercially issued bond guarantees.

Since 2017, our support has helped Power Jacks to win £9.5 million worth of export contracts.

Bruce Bultitude, Managing Director of Power Jacks, said:

We could have potentially lost out on valuable export business without the support of UKEF. We will also be looking into UKEF’s Exporting Working Capital Scheme in the future, for upcoming export contracts.

Alistair McMillan, Export Finance Manager for Aberdeenshire, Tayside, Highlands and Islands said:

These recent contracts represented significant wins for Power Jacks during what has been a difficult period for the sector as a whole. While the bank was supportive of the business and the management team, UKEF’s guarantees reduced their risk, enabling them to issue these bonds while allowing Power Jacks to retain the cash needed to fulfil the contracts.

Putting the right finance and insurance in place can give you the exporting edge, helping you to win contracts, fulfil orders and get paid.

Tell us about your business




Propeller manufacturer secures order to Bangladesh with UKEF support

About the transaction: Teignbridge Propellers International
Region Newton Abbot, Devon
Sector Manufacturing – propellers and stern gear
Project location Bangladesh
UKEF support Export Insurance Policy

Teignbridge Propellers International is a manufacturer based in Devon. It produces propellers and sterngear for small to medium sized boats. The company, which has been operating for 45 years, exports around 80% of its products to customers across the world.

As a major exporter, it has a commercial insurance policy, which normally provides the necessary insurance for Teignbridge’s export orders.

However, it was unable to obtain commercial credit insurance for an order from a new customer in Bangladesh that wanted to purchase propellers for its ferries. Teignbridge turned to UK Export Finance, which provided the cover that the company needed for the contract, allowing it to proceed with the order.

The cover we provided enabled Teignbridge to increase shipments by £300,000. This has had a dramatic impact on the company’s growth, allowing it to secure jobs and target new markets.

Ian Mills, Finance Director, Teignbridge Propellers, said:

UKEF’s support has secured jobs in our Devon facility and has given us the confidence to explore and target new markets in the Far East. This is now bearing fruit now with new orders of over £500,000.

Putting the right finance and insurance in place can give you the exporting edge, helping you to win contracts, fulfil orders and get paid.

Tell us about your business




Coronavirus (COVID-19): new transport guidance for passengers and operators

With permission Mr Speaker, I should like to make a statement about the new transport guidance for passengers and operators that has been published by my department.

Coronavirus has cast its shadow over the lives of everyone in this country.

As we all know too well, for some it has caused unimaginable heartache. And for many millions of our fellow citizens, this crisis has meant enormous sacrifice in the national effort to beat the disease.

The government is immensely grateful to the British people for the profound changes they have made over the past weeks.

I would also like to extend my thanks to transport workers and the wider sector for their immense efforts to keep Britain on the move during this crisis.

We will always remember the way the industry has served this country during this most challenging of periods. Public transport operators have ensured that all those on the frontline of the fight against the virus can get to work. While freight firms have delivered vital goods and kept supermarket shelves stacked.

However, it is now time to consider how together we will emerge from this crisis.

On Sunday, the Prime Minister set out the first careful steps for reopening society and a roadmap for the weeks and months ahead.

Undoubtedly transport is going to play a central role in that recovery. It will be key to restarting our economy, and in time enable us to renew and strengthen those precious social ties that are so deeply valued by us all.

But as I said last week, our nation’s emergence from this crisis will not be a single leap to freedom. It will be a gradual process.

We cannot jeopardise the progress achieved in the past few weeks by our shared sacrifices.

Therefore, we remain clear that those who can work from home should continue to do so. However, as those who cannot start to return to their jobs, the safety of the public and of transport workers must be paramount.

That is why the Department for Transport has today (12 May 2020) published two new pieces of guidance for passengers and operators.

These documents aim to give passengers the confidence to travel.

And they seek to give operators the information they need to provide safer services and workplaces for passengers and staff.

We encourage operators to consider the particular needs of their customers and workers as they translate these documents into action.

Mr Speaker, the first document is aimed at passengers. I’ll summarise some of the main points contained in this advice.

Firstly, as mentioned, we continue to ask that people only go to work if they cannot do their jobs from home.

That is because, even as transport begins to revert to a full service, the 2 metre social distancing rule will only leave effective capacity for 1 in 10 passengers overall. It is therefore crucial that we protect our network by minimising the pressures placed upon it and ensure it is ready to serve those who need it most.

As a result, we are also asking those who need to make journeys to their place of work or other essential trips to walk or cycle wherever possible.

In order to help more of us to do this, last week I announced an unprecedented £2 billion investment to put walking and cycling at the heart of our transport policy.

The first stage, worth £250 million, will include a series of swift emergency measures, including pop-up bike lanes, wider pavements and cycle and bus only corridors.

This money should help protect our public transport network in the weeks and months ahead. It’s my hope that it will eventually allow us to harness the vast health, social and environmental benefits that active forms of travel provide.

If people cannot walk or cycle but have access to a car, we urge them to use this before considering public transport, avoiding, where possible busy times of day.

I do, however, recognise that for some people using public transport is a necessity. In this case, you should follow the guidance we have set out today to stay safe when using the network.

This recommends that travellers maintain social distancing by staying 2 metres apart, wherever possible, to prevent the spread of the virus.

We also advise that, as a precautionary measure, people consider wearing a face covering when using public transport. This could help protect other travellers from coronavirus where you have unknowingly developed the illness and are not showing any symptoms.

And we urge passengers to avoid rush hours, to use contactless payment, and to wash their hands before and after their journey.

In addition, the guidance also reminds us that, at this most challenging of time, it is more vital than ever that we think of the needs of others.

Our transport operators and their staff are doing all they can to keep everyone safe.

Please follow advice from staff at stations, and at bus interchanges, be patient and be considerate to fellow passengers and staff.

In particular, we should remember the needs of disabled passengers, those with hearing and sight impairments and older travellers.

Mr Speaker, as I mentioned, we’re also publishing a second document, guidance for transport operators. These organisations really are at the forefront of our national recovery efforts.

They know inside out the needs of their customers and their workers, and they understand like no one else, their industries’ own specific challenges.

That is why I have no doubt that operators are best placed to implement the safety processes that work best for their businesses, employees and customers.

The guidance, we are publishing today, advises operators across all forms of private and public transport on the measures they can take to improve safety.

These steps include ensuring stations, services and equipment are regularly cleaned.

Making sure passenger flows are clearly communicated to avoid crowding and try to keep everyone on the network – passengers and staff – 2 metres apart.

This guidance will develop over time, in line with our increasing understanding of how coronavirus is spread and contained.

In addition, it is likely that there will be no one-size-fits-all approach to its implementation, it will need to be tailored into locally based plans that reflect specific needs. In preparation for that process yesterday I wrote to local authorities, to set out how we can work together to prepare the transport network at a local level for restart and ensure public safety.

Mr Speaker, the documents, I have published today, will help ready our transport system to support our country, as we seek to control the virus and restart the economy. We will inevitably encounter obstacles as we embark on this next stage of our national fightback against this disease.

And, there is no doubt that we will need to continue to work together as we overcome these challenges.

On that note, I would like to express my gratitude to our partners in the devolved administrations, local authorities, mayors, trade unions and transport operators for their work over the past weeks. I look forward to our continued collaboration in future.

Because, cooperation is going to be key to setting this country on the road to recovery.

If everyone plays their part, if we continue to stay alert, control the virus and save lives, and if we all follow this guidance when making essential journeys.

I believe we can together harness the power of transport to build a renewed and revitalised nation.

And I commend this statement to the House.




Milton Keynes founder of ‘Cheerful Little Letter’ project wins PM award

Press release

A Milton Keynes mum who started the ‘Cheerful Little Letter’ project will today receive the Prime Minister’s daily Point of Light award.

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A Milton Keynes mum who started the ‘Cheerful Little Letter’ project will today receive the Prime Minister’s daily Point of Light award.

Lucy Murray started the project in March to tackle social isolation safely by matching children with the elderly as pen pals. Her Facebook group has paired local children with over 1100 older people and has inspired similar initiatives across the UK.

In a personal letter to Lucy, the Prime Minister said:

I was so heartened to hear of your wonderful initiative supporting children to become pen pals with the elderly and vulnerable.

The thousands of letters you have inspired will have brought precious moments of comfort and happiness to many who are being shielded at this time, while forging lasting bonds between young and old across our society.

So today, I wanted to send a letter to you, to say a huge thank you on behalf of the whole country.

Reacting to the Prime Minister’s announcement, Lucy said:

It is a huge honour to receive this award and I would love to dedicate it to the wonderful children and their families who have made this happen and put so much love and care into their letters. I would also like to say a huge thank you to the amazing care workers who have made the project possible by supporting their residents to receive their post and taking time from their busy schedules to help them reply.

The Prime Minister’s UK daily Point of Light award was first launched in April 2014 to recognise outstanding individuals making a difference where they live. Lucy is the 1369th person to be recognised.

Published 12 May 2020




Funding to support armed forces charities doing vital work during pandemic

  • £6-million for those supporting the defence community affected by the coronavirus
  • elderly veterans, those struggling with mental and physical health, and service children among organisations eligible for funding can apply from Tuesday 12 May.

Serving personnel, veterans and their families will benefit from an additional £6-million of new funding to ensure they get the support they need during the coronavirus outbreak, announced today by Minister for Defence People and Veterans Johnny Mercer (Tuesday 12 May).

Today’s sum is part of a package of support announced by the Chancellor in April to ensure charities can continue their vital work during the pandemic. It will be offered in addition to existing funding for veteran’s mental health and the Armed Forces Covenant Trust.

The funding is available to apply for from Tuesday 12 May (today). It will be distributed in the form of grants administered by the Armed Forces Covenant Fund Trust, backed by the Ministry of Defence (MOD) and the Cabinet Office, and will be given to charities across the UK that work in 9 key areas affected by the impact of the coronavirus.

These include:

  • support to the elderly (including Care Homes)
  • mental and physical health
  • welfare
  • domestic violence
  • housing
  • criminal justice system
  • service families (including childcare)
  • bereavement
  • employment

The latest funding is in addition to the £10-million the Armed Forces Covenant Fund Trust received in the budget for support to veterans’ health and wellbeing and the annual government contribution of £10-million for the Covenant Fund, £3-million of which has already been protected for veterans particularly affected by the coronavirus.

The announcement follows the recent launch of 2 platforms specifically designed to support the defence community. Veterans’ Gateway, an app with 24-hour point of contact for support with finances, employment, relationships and physical and mental health, and HeadFIT, a new platform, spearheaded by The Duke of Sussex launched with online tools to help defence personnel take a more proactive approach to their mental health and fitness.

Minister for Defence People and Veterans Johnny Mercer said:

At such a difficult time I want to make sure our people, including those still serving, veterans, and their families, know they’re not alone.

Military charities do a fantastic job in supporting this community and today’s important new investment will ensure that they have the funding they need to continue their brilliant efforts.

Culture Secretary Oliver Dowden said:

Having just celebrated the 75th anniversary of VE Day, our veterans, armed forces and their families are rightly at the front of our minds, so I’m pleased we can give military charities supporting them through coronavirus extra help.

Our brilliant charities are vital to the national effort to beat the virus and this funding is part of the unprecedented charity support package pledged by the government to get help to the most vulnerable people in Britain.

David Richmond CBE, Director of the Office for Veterans’ Affairs, said:

Charities play a vital role in supporting our veteran community by providing a wide range of support and services.

It’s critically important that the government is providing support to them to allow essential services to continue during these difficult times and The Office for Veterans’ Affairs will continue to work closely with the charities to ensure the funding reaches those who need it most.

General Sir John McColl KCB CBE DSO, Chairman of Cobseo, said:

Cobseo members have demonstrated true grit and determination in adapting, and in some cases revolutionising, how they support the armed forces community during this crisis, and this funding will help to provide a more secure immediate future and sustain vital services.

Many members have shifted their services to online support; and they are continuing to reach out to combat loneliness, isolation and promote mental wellbeing; as well as working hard to deliver food and essentials for Veterans in need”.

Today’s funding is part of comprehensive measures to support vulnerable people through the pandemic and the government is working closely with councils, charities and other partners to ensure they get the support they need. The Department for Digital, Culture, Media and Sport has led the allocation of funding to support charities providing key services to help vulnerable people during the crisis.

Small and medium sized charities can also bid for funding through the National Lottery Community fund, which has an allocation of £370-million to support the sector.

The application process will be published on Covenant Fund Trust, and a separate decision-making board will be established to decide where the funding is best allocated. The board will include representatives from MOD, the Cabinet Office and COBSEO, the sector body for Armed Forces charities.