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Thorite arranges interest free loan with Micro Metalsmiths

Monday 16th May 2005

Micro Metalsmiths, based in Kirkbymoorside North Yorkshire, are renowned for the production of lightweight, precision castings for the airborne radar and aerospace markets.

The company recently called in pneumatic and fluid systems specialists Thorite, to carry out a data-logging survey of their existing compressed air production facilities, in order to identify the best choice of new machinery and enable a major compressor update.

Thorite is a leading facilitator for the interest free capital equipment loans currently provided through the Carbon Trust, which has been created to help businesses and the public sector reduce their carbon emissions and so minimise the long term effects of climate change.

This is particularly relevant to Thorite's customers, as the company distributes, installs and services a wide range of energy efficient air compressor machinery which can be eligible for Carbon Trust funding.

In the case of Micro Metalsmiths, the data-logged results were sent direct to the Carbon Trust, with a recommendation to purchase a new HPC 45kW air compressor and inverter.

The Carbon Trust agreed to provide a £14,000 interest free loan for this equipment, repayable over the payback period of the investment. This period can be up to 5 years, but in this particular case was shown to be just over one year.

Speaking of the new installation, Stuart Goodfellow, Micro Metalsmith's Production Manager said: "I'm delighted that our energy consumption levels have fallen, whilst our compressed air production efficiency has increased. Thanks to the assistance we've received from Thorite, and through them the Carbon Trust, it's a win-win situation for both our company and the environment."

Note: Interest Free loans through the Carbon Trust are available to enable energy efficient machinery purchase, providing companies which apply have annual turnovers of less than £25 million, employ less than 250 people and are not classified as being within the agricultural fisheries or transport industries.

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