WH Davis, the independent railway wagon manufacturer – and part of Buckland Rail – has secured a €44 million export deal to supply 150 freight wagons to Ireland.
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’ bank, Barclays, was able to issue 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’ manufacturing site in Shirebrook.
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.”
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.”
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.”
