Skip to main content

Mechanical damage and breakdown protection - 3 Dimensional Ltd

Mechanical Damage and Breakdown Protection - 3 Dimensional Ltd

3 Dimensional was formed 15 years ago and is now one of the leading toolmakers to the high pressure die casting and plastic moulding industries, particularly in the car manufacturing industry. Their client list includes BMW, Jaguar, Aston Martin and Land Rover.

Business challenge

3 Dimensional was in the process of expanding and had already received funding from Close Brothers Asset Finance in the form of the Sale and HP back finance.

At this point, with appropriate finance in place, the challenge for Managing Director Jason Callaghan was to ensure that nothing would prevent him from fulfilling an increasing number of contracts.

He realised that should there be any problems related to the machinery in the factory, that this would have an extremely adverse effect on production.

Solution

3 Dimensional Ltd spoke to Richard Kirk, Regional Sales Manager at Close Brothers Asset Finance who recommended Mechanical Damage and Breakdown Protection, a product designed specifically for operators of industrial and commercial machinery.

He explained that it would help Jason to budget for the unforeseen costs of breakdowns, operator error and production interruptions, providing protection at a fixed monthly cost over a set term of up to 7 years with no risk of increasing premiums.

Jason said: "I contacted Close Brothers who quickly made the process simple. They reacted quickly to my needs and before long we had the cover we needed. It offered me peace of mind that if anything was to go wrong it would not affect our production and ability to meet our customers' needs."

Over the last four to five years of working with Close Brothers, 3 Dimensional has expanded dramatically. They have been able to buy new equipment and take on more staff, therefore increasing their output.

Result

Jason said: "The Breakdown Protection has already come in useful. One of the machines stopped working in January, the Policy covered the cost of the repair which was £1200. It also meant I was able to get it fixed immediately rather than waiting to factor the cost into my cash flow.

"Without the support of Close Brothers Asset Finance we would have struggled to expand in the way we have and it’s possible that we may not even have been here today. Close Brothers understood our business from the outset and worked alongside us throughout the whole process. I know they are only a call away if I require any assistance."