A Newport supplier of construction equipment is expected to record a turnover of more than double the expected target…
Altraxx Plant Services was launched in March 2014. The firm was helped off the ground by a £150,000 loan from Finance Wales, which was used to build up its hire fleet, purchase stock, and invest in specialist export equipment.
The firm has now reported it is on course to record a turnover of more than double what it set when it was founded last year.
Altraxx Plant Services also saw growth in its staff, with one new employee taken on and four new sub-contractors.
The firm mainly supplies customers in the construction and infrastructure sectors, as well as those in quarrying, recycling, and materials recovery. It exports globally to Australia, Africa, and parts of Asia, as well as Europe.
Managing director Al Preece-Jones said: “The demand for high-quality plant and equipment for sale, short and long-term hire is growing, both in the UK and overseas.
“From the outset, it was important for us to establish a reputation for being able to source the equipment our customers need either from stock or through our industry contacts.
“Finance Wales’ backing has enabled us to establish our sales and hire businesses in our first year and both have exceeded our expectations.
“This has given us the confidence to move forward and we’re already looking to widen Altraxx’s reach by increasing the range of plant and equipment we stock.”