Street Crane is not just the UK’s largest factory crane producer, but also a major export success story. This was recognised in a visit by Chancellor of the Exchequer George Osborne who toured the factory, meeting the directors and workers who are driving business growth.
Around 70 per cent of Street Crane’s £25 million turnover goes to export
markets. Most of this comprises crane kits, the electro mechanical
crane elements such as hoists,
carriages and controls that are more easily exported. The company ship
these to a network of 70 international partners, most of whom are crane
makers who fabricate the heavy crane structures locally.
A package of technical and marketing support is provided to overseas
partners. This includes access to Street Crane’s own design software and
expertise so that partner companies in developing countries are able to
fabricate crane bridges to UK and European standards. Many also use
the company’s branding alongside their own on the completed cranes.
During his visit the Chancellor took the opportunity to reveal an
innovative scheme whereby the government, through the Bank of England,
will make low interest funds available to banks. This is on condition
that they are used to make lower cost loans directly to UK business.
“Many UK engineering businesses are finding it difficult to raise funds
for capital investment in equipment. Let’s hope that this scheme makes
it easier for these companies to invest in new cranes and we can then
see a revival of the fortunes of our UK crane sales and the
manufacturing sector generally,” commented Street Crane chairman Martin
Street Crane Company
themselves may have some interest in the new scheme as work is to start
soon on a new 20,000 square foot factory that will double hoist
production, with the bulk of the output destined for overseas.