£400k refresh for Joy Mining UK draws out capital and saves on man hours
- £400k helps enable Joy Mining UK to refresh IT estate without disrupting operations
- New equipment saves Joy Mining costs and 35 man hours per day from boot up time alone
- Lombard’s additional facilities support further savings for Joy Mining
Joy Mining Machinery is the global leader in the development, manufacture, distribution and service of underground mining machinery for the extraction of coal and other bedded materials. With over 90 years’ experience, it has the world’s largest and most extensive aftermarket service and support infrastructure in place of any underground equipment supplier.
In October 2011 Joy Mining UK’s IT estate lease came up for review. Having had a long standing relationship with Lombard, Joy Mining approached Lombard to refresh its existing IT estate over a short period. With a range of equipment to finance, including computer aided design (CAD) workstations, desktops and laptops, Joy Mining was looking for the best deal and a good service. Determined to add value, Lombard used its industry knowledge to drive the unit price down, and its technical expertise to identify the best equipment and deal to suit the customer.
Mark Kelly, Lombard Relationship Director, explains, “We created a £400k residual value lease to fund the IT update. This enabled the customer to replace its existing estate, and the new machines save around 35 man hours per day in terms of boot up time alone. We also used the Lombard procurement services to save the customer substantial costs on capital and another Lombard facility to help the customer manage project costs over a period of time.”
As it was important for Joy Mining to install the new equipment without disruption to its operations, Lombard was able to phase in the new equipment and, as Joy Mining is part of a worldwide group, Lombard also worked with its parent company in the US to ensure everything went smoothly.
Alan Rogers, Joy Mining’s Eurasian GBS Manager, explains, “The funding from Lombard helped us refresh our IT estate; saving us money and ensuring greater efficiency. Lombard was very flexible with the existing equipment that was due to be returned and we were able to complete the installations without worrying about returning the old kit, especially as we were working to tight time constraints. Lombard managed the technology specification changes between us and the vendor, from concept to sign off. Their support and understanding has made them a valued strategic partner when it comes to updating our assets.”
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