Ian Paisley MP pictured with Jo Bamford.
North Antrim MP Ian Paisley has welcomed government confirmation that leading bus manufacturer Wrightbus has received UK Export Finance (UKEF) support providing essential backing to the Ballymena-based company to "take on an export deal and fulfil the order with confidence".
As the UK government's export credit agency, UKEF's role is to advance prosperity by ensuring no viable UK export fails for lack of finance or insurance, doing that sustainably and at no net cost to the taxpayer. UKEF provides financial support and insurance to help companies from across the UK win, fulfil and get paid for export contracts.
UKEF is a central part of the government's commitment to help UK companies realise the opportunities created by the UK's new independent trade policy agenda.
It is the latest positive news for the local company, which has gone from strength to strength since being saved from entering administration by entrepreneur and businessman Jo Bamford. The support from UKEF was confirmed to the local MP in a letter from Tim Reid, Chief Executive of UK Export Finance. Mr Reid said:
"Finding the right finance and insurance is critical for any company, of any size, in any sector, looking to realise the opportunities of a global marketplace. And for ambitious, outward-looking companies like Wrightbus, UKEF is on hand to help make those exports a reality.
"Research has shown that on average, companies that begin to export grow by a third in just two years. Exporters can achieve levels of growth that may not be possible domestically, can increase revenues and profits, create and maintain UK jobs and contribute to GDP.
"We also know that, thanks to their close relationships with the companies in their constituencies, MPs like yourself are uniquely well-placed to help raise awareness of UKEF's products and services, and to act as powerful advocates for the benefits of UKEF's support."
North Antrim MP Ian Paisley welcomed the backing, representing government belief and confidence in the local bus manufacturer. He said:
"I have lobbied hard for the UK government to support this project, and I am delighted to receive official notification that the export finance has been guaranteed in this way.
"Once again, another commitment to the Ballymena bus project that helps embed its future."
Mr Paisley added:
"Companies across North Antrim can find out more about how UKEF can help them export successfully by contacting the organisation's Export Finance Manager, Elizabeth McCrory using the details below."
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