Suffolk/Essex: Supply chain group Canute opens new warehouse
ESSEX-based logistics operator Canute Group has opened a new warehouse at Great Blakenham, near Ipswich.
The facility, funded through a �13million banking facility provided by Barclays, will be used to develop new business opportunities and provide added value to new and existing customers.
Canute, based in Purfleet, was established in 1977 with just two lorries, making deliveries for local builders, but within five years expanded its fleet to 20 vehicles, generating turnover of �2million.
It is now one of the UK’s fastest-growing specialist global supply chain operators, with turnover of around �80m and a network of 11 offices across the UK and Ireland, plus a number of partners overseas.
Steve Ely, finance director at Canute, said: “The growth potential of the group could only be realised with a banking partner that was in union with managements’ aspirations. This led to our strategic move away from our previous relationship of 34 years and we are delighted to be working with Barclays to enhance our position in the market.”
Steve Pleass, relationship director, corporate banking at Barclays, said: Canute Group is a real success story that has been built up over many years of hard work. They continue to grow the company through new opportunities and markets both at home and abroad.”