Randstad accelerates into new venture with help from Allied Irish Bank (GB)

Submitted by on Wed, 28.05.08

Automotive parts distributor Randstad Limited has become the only distributor in the UK and Ireland of an innovative new product that gives diesel vehicles better fuel economy and reduced CO2 emissions, with help from Allied Irish Bank (GB) in Newcastle.

The Cramlington-based company is determined to continue expansion and diversification of its customer base, and its latest venture as the sole UK distributor of the European manufactured Diesel Power Tuning module helps achieve this aim. Originally designed by Wim Essing, a former Formula 1 race engineer for Ferrari and Renault, the DPT will give most modern diesel car and van operators a significant reduction in their annual fuel bill.

 

When installed, the DPT delivers up to 16% more miles per gallon on a modern diesel engine. Randstad is currently supplying the tuning device for cars and light commercial vehicles, but it is aiming to provide it for all commercial vehicles in the near future. For further product information please visit www.dieselpowertuning.co.uk.

 

Allied Irish Bank (GB) has worked in partnership with Randstad for 14 years supporting the business as it has gone from strength to strength. It provided funding for the purchase of its new premises in 2004 and the Bank will continue to fund and offer strategic advice on Randstad’s future developments as it continues to grow its product offering in different markets.

 

Established in 1976 as Tyne & Wear Autoparts Limited, the company has moved to successively larger facilities three times within Cramlington since 1985.  Its most recent relocation to a 2.5-acre freehold facility in Cramlington has ensured Randstad is settled for a number of years. The location provides the company with the ability to more than double the size of its existing warehouse.

 

Martin Dowd, managing director of Randstad, said: “Competition in the automotive industry is tough and continued success requires that we have the ability to make innovative, opportunistic decisions at all times.  Allied Irish Bank (GB) helps us achieve this by making sure they understand our industry and company inside out and can therefore respond to our propositions quickly.

 

“As a growing business we need to have suitable financial support in place and Allied Irish Bank (GB) has always been there to provide this for us. We moved into new £1 million units in 2004 and they supported that.

 

“It is a profitable relationship working with a bank that is interested in getting to know the people that are their clients to give the best advice for the business. This makes all the difference in a long-term business relationship. Allied Irish Bank (GB) has been a quality partner for Randstad to operate with for well over a decade.”

 

Jackie Parsons, manager corporate business at Allied Irish Bank (GB)’s Newcastle branch, said: “Randstad has become an established company in the north east and nationally because it works with, not for, its customers bringing innovative products like the DPT to the market place. We strive to compliment our client’s businesses, as well, by forging strong relationships with the people involved, understanding their operations and individual business needs and to be part of their planning strategy as they develop their business plans.

 

“As Randstad continues to meet the needs of its customers nationally, we hope we can continue to play a positive role in the company’s growth that will consolidate its success so far.”