A Midlands distribution company has moved into the fast lane after buying a fleet of new trucks, with help from Lloyds TSB.
The bank stepped in to finance the latest expansion drive by Rugby-based Panic Transport ( Contracts), which has bought seven new Mercedes 7.5 tonne vehicles worth almost £200,000.
Panic Transport - based at London Road, Dunchurch - has been in business for 17 years, and has been a Lloyds TSB customer throughout.
The company was founded by Kevin Johnson, who began with just one vehicle. Today, he has a fleet of 50, including the new Lloyds TSB funded vehicles.
Panic Transport has two specialist divisions, Moto Distribution, which transports and stores motorcycles from point of import to dealerships, and Fragile Distribution, which delivers "high care sensitive" items to the bathroom industry. The company has long standing contracts with a number of leading blue chip companies. Panic recently opened a major distribution centre at Daventry. n Willenhall-based parcels carrier Nightfreight has invested £2.4 million to streamline its operations.
It has made improvements across the board including in collection, sorting, hubs and delivery.
The firm, which went through a secondary management buyout in June last year, said the aim was to go for growth by redesigning and reengineering the product offering to ensure customers received a top quality service.
"The changes to our hub and depots will enable us to streamline the entire process of handling consignments," said chief executive Rob Kelly.