A FIFE-based coach operator has embarked on the latest stage of its investment programme after securing a £3 million refinancing package from its bank.
Moffat & Williamson has launched a rolling programme of investment in its 63-strong fleet – a mixture of school buses, service vehicles and luxury coaches.
Four vehicles have been acquired this year, with another three to join the fleet by th
e end of 2009, according to the firm.
The company, which employs 85 people in Glenrothes and Newport-on-Tay, secured the funding from Royal Bank of Scotland (RBS) and its asset finance division, Lombard. JP Williamson, director of Moffat & Williamson, said: "With the safety and comfort of our passengers of paramount importance to our business, it is vital that we invest in our fleet."
Bryan Johnston, relationship director, RBS Business & Commercial Banking in Fife, said: "Moffat & Williamson is an impressive business which has a first-class approach to its customers."
Johnston added: "The firm's refusal to rest on its laurels by committing to an ongoing programme of investment in its vehicles is indicative of the management team's desire to remain at the top end of the market by constantly looking for ways to deliver excellent customer service."
The company was formed in 1978 when Cardenden bus firm James Moffat & Sons merged with Williamsons of Gauldry, both of which were established in 1945.
The amalgamated firm remains a family-run business with the Williamson family now responsible for running the company it has wholly-owned since March 2008.
