The Covid-19 outbreak has led to a significant resurgence in interest in Mills CNC’s ‘SMART Options’ machine tool rental initiative amongst UK and Irish manufacturers.
The rental scheme, available on all new Doosan machines supplied from stock by Mills, is administered and managed by Mills CNC Finance, the company’s independently operated machine tool finance arm and has, over recent years, helped a significant number of component manufacturers acquire a new Doosan machine tool.
As Mills CNC managing director, Kevin Gilbert explained, the spread of the pandemic, and the uncertainty it has created (and continues to create), has sparked new interest in the scheme.
“Our SMART Options rental scheme has always been available to manufacturers – but interest and demand over the last few weeks, understandably, has increased exponentially. Despite the continuing lockdown and government instructions on social distancing, many component manufacturers are operational,” he said.
“Some of these companies are actively involved in manufacturing ventilators, ventilator components or other emergency medical equipment in response to the coronavirus and need immediate and additional short-term machining capacity and capabilities to help fulfil these orders.”
Other component manufacturers, with one eye on the future and the inevitable relaxation of the lockdown, are preparing, albeit with cautious optimism, for the future.
“Some companies need additional machining capacity but are reticent about saddling themselves with what they consider to be long-term financial commitments caused by investing in a new machine tool via a bank loan or via traditional hire purchase or operating lease arrangements,” Mr Gilbert added. “For these companies the scheme is a viable alternative.”
The SMART Options Rental Scheme is flexible and is designed to bridge the gap between manufacturers needing access to high-performance machining capability and capacity but who do not want to break the bank acquiring it.
It comprises a number of elements. The first is that the rental period for a new Doosan machine must be for 12 months in the first instance. Towards the end of the 12 month period manufacturers have several options: return the Doosan machine to Mills CNC; extend the rental period for a further 12 months; or buy the machine and get 100% of the rental payments already made refunded against the original price of the machine.
SMART Options’ rental payments are also highly-competitive, attractive offering low rates to manufacturers. Such low payments combined with the scheme’s ‘No deposit required’ condition and the fact that machine tool delivery, installation and training are all included in the price, add to its appeal.
All Doosan machines held in-stock by Mills CNC at its Leamington facility, including the company's bestselling Lynx and Puma lathes and DNM vertical machining centres, can be acquired through the SMART Options scheme.
Mills CNC www.millscnc.co.uk
