NEWS

Plant hire entrepreneur's £1 million deal

Plant hire entrepreneur Mervyn Lambert yesterday urged East Anglian businesses to "diversify to survive the downturn" - and revealed his firm had won a £1m traffic management contract with National Grid.

Mr Lambert, who set up his plant hire business at Garboldisham in south Norfolk 40 years ago, said he was looking to create a national traffic management operation.

The deal with National Grid will see Mr Lambert's company manage all of the energy giant's traffic management works across the six counties of the East of England and Lincolnshire for the next three years - and an option to extend the deal for a further two years.

It is the company's second traffic management contract - the first being with Norfolk County Council - and will see the opening of a new depot in Bedford.

But Mr Lambert said he hoped to open 14 new depots around the country in the next "two to three years" and double the company's £12m-a-year turnover.

Mr Lambert said: "Just about a year ago, to beat the recession I knew was coming, I decided to diversify to avoid the worst of the building downturn. One of the areas I've invested in is traffic management.

"We've now got contract to work with National Grid in seven counties. As a result of that, we'll be looking to open a new depot in Bedford.

"There'll be at least another 15 jobs in Bedford. All the management and accounts will be done from Garboldisham."

Mr Lambert said his company managed all aspects of traffic management - from obtaining permits and negotiating with local authorities on client's behalf to running the traffic lights on site.

But he also urged East Anglian businesses to consider opportunities to diversify in the face of the stormy economic climate.

"I've been expecting this for many years," he said.

"I think a lot of businessmen who did not see the early 1990s don't realise how hard a recession can bite and how hard it can be.

"Businesses in East Anglia need to diversify to survive and make sure you aren't just working in one market. I think there could be worse to come."