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TIP to invest over £19million in 900 new trailers for its fleet in 2014

In the biggest UK trailer purchase deal by a single company in 2014 so far, leading trailer company TIP Trailer Services has announced that it is to invest over £19million in 900 new trailers for its UK trailer fleet. The first of the new trailers are scheduled to go into service in June this year, with the balance of the 900 trailers being operational by October.

TIP’s planned £19m trailer programme for 2014 will predominantly cover a mixture of standard trailer types, including curtainsiders, box vans, skeletals and reefers, although TIP says that it will also be looking to include a small number of newer trailer design types, such as teardrops and double deck trailers, within its product offering as part of this acquisition programme.

Announcing details of this major investment deal, Mike Furnival, Commercial Director UK at TIP Trailer Services said, "The majority of the trailers being purchased will go towards satisfying the growth of new TIP business here in the UK. The UK customer base is asking for newer trailers as part of our extensive product offering and it is really positive that we are able to announce this investment which will enable us to service this requirement and grow our market share."

In the UK, TIP currently owns and manages over 14,000 trailers through its trailer rental and services business. As Mike Furnival explains, "The UK business continues to deliver strong performance figures and we believe that this new investment, which clearly demonstrates HNA’s commitment and confidence in our business, will complement our total service offering to our customer base."

"We are now seeing strong demand at the trailer manufacturer level as customers look to invest in their fleets for the first time for many years. We recognise that our customers feel more confident about a continued stable recovery in general and this is a view that the TIP supports," said Mike Furnival, "Fundamentally, we feel that the time is now right to invest in our UK trailer fleet, which will enable us to better support our customers demand for good quality, flexible rental equipment that allows them to deliver the best service every day."

As the new trailers join the growing TIP fleet, the company will be looking to remarket and sell some of their older trailers in the first steps towards reducing the overall fleet age profile.

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