A Scottish business is delivering one of Iraq’s biggest-ever investments into its emergency services following a deal brokered by the UK government.
Issued by UK Export Finance (UKEF), the government’s export credit agency, a c. $31 million loan allows Iraq’s Ministry of Interior to purchase 62 British-made fire-fighting vehicles. Ayrshire-headquartered Emergency One has been selected to supply 31 of the vehicles, half the order for Iraq’s Civil Defence Directorate, and Yorkshire based Angloco is supplying the other half.
The deal will facilitate the biggest overhaul of Iraqi fleet this century with each new vehicle, capable of carrying up to 6,500 litres of water and 500 litres of foam, on standby to help tackle frequent fires that break out in Iraq, especially in the summer, devastating businesses and communities.
Cumnock-based Emergency One, the UK’s leading manufacturer of fire and rescue vehicles, supplies over 90% of the UK’s fire and rescue services and continues to grow its international presence. It brings significant expertise and innovation to this important contract, further strengthening its impact in the Gulf region.
In 2023-24, UKEF supported businesses in Scotland with £45 million in new government financing support, helping them win new contracts overseas. It has two regional representatives dedicated to supporting Scottish businesses.
Scotland Office Minister Kirsty McNeill said:
This UK Government funding is bringing significant business to Ayrshire-based Emergency One, a leading supplier of fire and rescue vehicles. Deals like this, organised through the hard work of UKEF, are vital to boost our home-grown industries, support jobs and encourage growth for the benefit of the whole UK.
I wish the company every success as they complete this contract that will make very important improvements to Iraq’s emergency services.
By helping buyers to purchase UK exports more easily, UKEF loans secure large contracts with favourable payment terms for British businesses – including small businesses likely to need payment upfront before they can deliver a contract. Promoting investment into local businesses and employers, this partnership supports this government’s Plan for Change to boost economic growth across all regions.
Steven Bell, Managing Director at Emergency One, said:
We’re incredibly proud to be part of this significant project to modernise Iraq’s fire-fighting capabilities. The partnership with Iraq’s Ministry of Interior, supported by UK Export Finance, highlights the strength of British engineering and our commitment to delivering world-class fire and rescue vehicles.
It’s an honour to contribute to the safety and resilience of communities across Iraq, and we look forward to continuing our support as part of this important collaboration.
J.P. Morgan acted as both Sole Mandated Lead Arranger and agent bank for the loan.
John Meakin, Global Head of Export Finance at J.P. Morgan, said:
J.P. Morgan is delighted to support the finance of firefighting equipment from the UK to the Republic of Iraq.
Background:
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UK Export Finance (UKEF) is a UK government ministerial department and the nation’s export credit agency (ECA). UKEF helps exporters access working capital and manage the risk of not getting paid by offering a government guarantee. It supports companies of all sizes and multiple sectors across the UK.
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UKEF works alongside other sources of public financing and business support in Scotland, including DBT Scotland, Scottish Enterprise, UK Infrastructure Bank, British Business Bank and Scottish National Investment Bank.
