Multi-million boost for bus firm

Prime Minister Theresa May today announced a finance initiative that will allow Alexander Dennis to construct 90 low-emission double-deckers that will be shipped to Mexico to cut congestion and pollution on the Paseo de la Reforma – Mexico City’s answer to The Mall.

The buses will begin transporting passengers along the historic route from the end of this year.

Colin Robertson, Chief Executive, ADL, said: “It is hugely exciting to know that ADL’s signature red double-decker buses will soon be transporting Mexico City’s residents in style and comfort.

“As a global double-decker leader with fleets of our vehicles across the world, we see the positive impact these vehicles can have in improving the transport infrastructure, congestion and air quality in the world’s busiest cities.

“Our ability to offer finance from UK Export Finance in Mexican Pesos was a significant benefit to our buyer, helping us win this major contract.”

The contract was secured thanks to a 1 billion Mexican Pesos agreement by UK Export Finance, part of the UK Government’s Department for International Trade, and underlines the UK Government’s ongoing work to help support Scottish businesses and deliver for people in Scotland.

The Prime Minister said: “These iconic double-deckers being made in Falkirk to transport commuters around Mexico City are a great symbol of how the UK Government is using its muscle to help Scottish companies reach markets across the globe and win multi-million pound contracts to support jobs in Scotland.

“Together with our industrial strategy and investment in UK city deals, this is another example of how we are taking action to build a stronger economy right across the UK and will continue to deliver for Scotland.”

Alexander Dennis is one of nine Scottish-based companies that have received a combined £85 million of financial backing from UK Export Finance since it became part of the UK Government’s Department for International Trade when it was created last summer.

International Trade Secretary, Liam Fox, said: “As an international economic department, the Department for International Trade is putting export finance at the heart of trade promotion.

“The £1.7 billion in financial support since last summer has helped 137 companies secure deals around the world, in 40 local currencies including the Mexican Peso. This has made buying from the UK and Scotland more attractive than ever.

“There is global appetite for British goods and expertise, and Scottish firms such as Alexander Dennis are taking advantage of the opportunities in fast growing markets like Mexico, securing deals that will boost the UK’s exports and safeguard jobs back home.”