Demand for Hoists rises with large scale construction project
Most of our cities have a sky line full of cranes. Safety for construction workers is key, ensuring the right equipment is in place at the right time.
Sydney currently has around 350 cranes working on buildings that are growing ever taller across the city. Despite some faltering in the residential housing market, the infrastructure project pipeline continues to build. Hospitals are one area where our aging and growing population means additional space and upgrading are planned.
The $1 billion Westmead project was approved in 2017 in West Sydney. This will include a new hospital building, which at 12 floors, will be the tallest in Australia. The first phase started this January and is due for completion in 2020. There have been a range of contractors chosen to work on the development.
One such NSW company specialises in Formwork. Formwork is temporary or permanent moulds into which concrete or similar materials are poured. In the context of concrete construction, the falsework supports the shuttering moulds. As the building gets taller strong hoists are needed to enable the work to progress.
With a successful business since 2014, the company ordered two Maber 3500 hoists to support the Westmead project. These are expensive items so a big drain on company cash flow. Two different lenders were approached through the companies broker, with Classic Funding Group being one of them.
We've been delighted to settle $289,000 Equipment Finance over 36 months to support this company. Speed was important and so we ensured that everything was in place within one working week.