Pictured above: (l-r) Richard Hills, Charles Lawerence and
David Burgess
A Newark-based tyre recycling group has become more sustainable
during its 50th anniversary year after securing lending support
from Lloyds TSB Commercial for new processing equipment and
renewing existing working capital facilities.
Charles Lawrence Group recycles commercial vehicle tyres to make
rubber granules, which is used for children's play and sports
surfaces. The business also designs and manufactures the machinery
that is used in the recycling process.
Established in 1961, the Group has now recycled more than six
million commercial vehicle tyres and delivered an increased net
profit of 27 per cent over the last five trading years.
The Group works in partnership with the UK's leading truck tyre
retreaders, processing 450,000 of scrap tyres each year, and with
Nike on its 'Reuse A Shoe' programme, which recycles old trainers
into a product that can be used on playground surfaces.
The funding from Lloyds TSB Commercial has also enabled Charles
Lawrence Group - which expects to turnover £12 million this
year - to invest in machinery to improve its steel recycling. This
has improved the Group's profitability by successfully turning what
was once a waste product into a saleable commodity by separating
and baling it ready to be reused.
Richard Hills, finance director at Charles Lawrence Group, said:
"The move towards recycling came from recognising the need for a
better quality, lower cost rubber granulate. Having become leaders
in play and sports surfacing, we discovered that there was a huge
demand for the product but the supply was not there. It was a
logical step to invest in the technology to produce the product
ourselves.
"The continued funding, not to mention the support and guidance,
that we've received from Lloyds TSB Commercial has allowed us to
broaden our horizons and become more streamlined as a
business."
David Burgess, relationship director for Lloyds TSB Commercial,
said: "Charles Lawrence Group is unique in that it designs and
manufactures recycling machines, uses the machines to recycle
product and then uses this recycled product in manufacturing play
surfaces.
"It is this innovation and drive to establish the business as a
forward-thinking manufacturer that will continue to position them
as leaders in their field.
"Lloyds TSB Commercial is committed to helping businesses that
are striving to become more sustainable. Recent research shows that
small firms are missing out on a potential £5.7 billion of
economic growth across the UK in the next three years through not
embracing the sustainability agenda. However, with nearly a third
of businesses seeing direct growth as a result of it, it is good to
see a local firm benefitting from what sustainability can
offer."