Miniveyor Products Ltd. The New Home of Miniveyor

Feb. 21, 2009 - PRLog -- Rako Products, who introduced the innovative Miniveyor™ to a worldwide customer base in the early 90’s, went into administration in December 2008 following a difficult trading period due, in part, to substantial debts owed to Rako by their North American distributor of confined access construction equipment Miniveyor Systems Inc, who operated out of Stone Mountain GA and Burlington, Ontario.

The deal struck with Administrators, Deloitte LLP, by Darracq Shawe, a former director of Rako, to purchase the IPR, assets and goodwill of Rako Products Ltd, safeguards the continuation of manufacturing at the Stonehouse facility as well as the supply of their world famous product to a global marketplace.

In a recent interview Shawe said ‘…of course Rako had been affected by the credit crunch but our products are still in demand in a rising market in which our construction and mining customers are coming under increasing pressure to increase productivity while at the same time reduce manpower and overheads. The introduction of Miniveyor into these organisations almost always reduces their reliance on manual labour, increases productivity and reduces manual handling health and safety incidents’

He went on to say ‘I apologise for the disruption in supply to customers and in particular to our customers in North America following Rako’s decision to suspend deliveries to US distribution partner Miniveyor Systems Incorporated in April 2008 because of payment issues with them. I am aware that some of our North American customers may have paid deposits to our former distributor and not received goods and I would like them to contact me if they have been affected by this in any way.’

Shawe was advised by the acquisition team at Harrison Clark LLP and Lloyds Banking Group, who provided funding through the Enterprise Finance Guarantee scheme. This funding scheme has been launched by the UK Governments Department for Business Enterprise and Regulatory Reform (BERR) to help SME’s with viable business plans raise the necessary investment during the economic downturn.
Stonehouse
21st February 2009

NOTES TO EDITORS

Miniveyor Products Ltd is a world leader in supplying confined space equipment to the construction, mining and tunneling industry worldwide. The company aim is to supply a customer service of reliability and satisfaction.

Miniveyor Products Limited believes in providing customers with innovative solutions designed to improve their workflow. Their Miniveyor™ conveyor system was created in the early 90’s to offer a light, portable and flexible solution that nevertheless had the motor capacity to fulfill some of the toughest tasks. Easy to operate, the Miniveyor™ isn't limited to a single type of job. In fact, it is currently used successfully, worldwide, in a multitude of applications. With offices in 4 continents Miniveyor Products serve a global customer base through a worldwide distribution network.

Miniveyor Products Ltd
Stonedale Road
Oldends Industrial Estate
Stonehouse
Gloucestershire
GL10 3RQ
United Kingdom
T: +44(0)845 0942140
F: +44 871 575 0581
sales@miniveyor.com
http://www.miniveyor.com

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Miniveyor Products Ltd is a world leader in supplying confined space equipment to the construction, mining and tunnelling industry worldwide. Our aim is to supply a customer service of reliability and satisfaction.