- WH Davis is exporting railway wagons for the first time in 20
years, with plans to grow into more international markets
- The company is creating 20 new jobs after securing a new
exporting contract to Ireland
- Latest action in the government's Plan for Change and in
support for the UK's manufacturing sector as part of the
Industrial Strategy
WH Davis, the UK's sole remaining independent railway wagon
manufacturer – and part of Buckland Rail – has secured a €44
million export deal to supply 150 freight wagons to Ireland with
support from UK's export credit agency.
The deal has been enabled with support from export credit agency
UK Export Finance (UKEF) through its Bond
Support Scheme. An 80% guarantee provided by UKEF for the
required contract bond means WH Davis's bank, Barclays, was able
to issue vital capital that would help to fund the production and
delivery of the wagons.
The contract represents the first order under a 10-year framework
agreement that could see the number of wagons supplied rise to
400. The wagons will support Ireland's ambitious rail freight
expansion strategy and are expected to start delivering in summer
2026, with all wagons delivered and in service by the end of
2027.
The contract is expected to facilitate a significant expansion of
the company's workforce by one quarter (25%) – from 80 to 100
staff members. The jobs will be located at WH Davis's
manufacturing site in Shirebrook – an ex-mining village in the
East Midlands – helping to revitalise employment in the
area.
, Minister for Exports and
Small Businesses, said:
UK manufacturers have huge exporting and growth potential, and WH
Davis's breakthrough into this market is a perfect example of how
the right support can help unleash this.
Through our Plan for Small Businesses and Trade Strategy we're
removing barriers for SME exporters. This connects them with
global opportunities, to create high paying jobs and support
local economies as part of the Plan for Change.
Tim Reid at UK Export Finance, said:
WH Davis's return to exporting after 20 years, backed by UKEF's
Bond Support Scheme, shows the transformative power of export
finance in revitalising local manufacturing and creating skilled
jobs in communities like Shirebrook.
This is a clear example of the potential that British firms have
to succeed in global markets while driving local growth.
The new wagons offer a third more carrying capacity compared to
Iarnród Éireann's older fleet and are faster too with a maximum
speed of 110kmh (up from 80kmh). With larger and faster wagons,
more companies will be able to use them for transporting goods to
businesses and communities around Ireland.
UKEF's backing has provided WH Davis – part of Buckland Rail –
with a foundation to expand its operations and prepare for future
orders under the agreement too. Discussions around the second
phase of the contract are already underway, with potential for
further product development and export expansion.
Andy Houghton, Managing Director of WH Davis,
said:
We are proud to be shaping the future of rail freight with this
landmark export contract. This is a significant milestone for WH
Davis and reaffirms the strength of UK manufacturing on the
international stage. UKEF's support has given us the confidence
and liquidity to deliver on our ambitions and explore new export
internationally.
Barclays has a long-standing relationship with WH Davis, which
was key in facilitating the innovative bonding structure used in
this deal. The bank is supporting the business with a total of
€28.7 million in UKEF backed bonding facilities over a 3-year
period for the project.
James Guthrie, UK Head of Mid-Corporate Trade at
Barclays, said:
We're proud to have supported WH Davis on this milestone deal,
which marks a major step forward for the business and for UK
manufacturing. By working closely with UKEF, we were able to
provide a financing solution that gives WH Davis the flexibility
and confidence to deliver on this contract and pursue further
growth in Europe. It's a great example of how strong
collaboration between lenders and government-backed finance can
unlock global opportunities for ambitious British exporters.
As WH Davis looks beyond Ireland, the company is preparing to
target further markets across Europe and internationally, opening
new doors for UK rail manufacturing with the confidence of UKEF
support behind it.
This announcement forms part of the government's Plan for Change
to kickstart economic growth and raise living standards across
the United Kingdom by supporting businesses to export and grow
through its Industrial Strategy.
The news follows the recent publication of UKEF's
annual report & accounts for 2024/25.
Over the last financial year, UKEF provided a record £14.5
billion in new financing, helping over 667 UK companies to export
and grow and supported up to 70,000 jobs.
