ILC ARTICLE

Mirka publishes 2022 Sustainability Report


Mirka is publishing its 2022 Sustainability Report, highlighting the progress it has made towards achieving a net zero future.

Supported by £26m funding from Business Finland, an ecosystem of Finnish companies committed to developing innovative manufacturing solutions, Mirka has invested in fossil-free electricity generated by hydropower at all its production facilities in Finland, leading to a 56% reduction in scope 1 and 2 emissions, while also installing solar panels at its production facility in Lombardy, Italy.

Mirka is further reducing carbon dioxide emissions by 900 tonnes at its Jakobstad site with the introduction of an energy solution based on geo-energy from geothermal holes, and has invested in a purification and heat recovery system at its Oravais plant in Western Finland, based on recycled energy.

The company has also reduced air transport by 30% and adopted new energy solutions across various sites that have led to 70% renewable energy use.

Mirka’s CEO Stefan Sjöberg said, “Over many years, Mirka has made smart long-term investments to improve the sustainability of its operations. These investments helped us ride out the pandemic’s challenges, and our sustainability work has proved that sustainable operations benefit not only the environment but also companies in the long term.”

A Melton Mowbray business specialising in supplying and distributing high quality vehicle accident repair parts is motoring towards further growth with support from HSBC UK.

Trade Vehicle Parts will use the seven-figure funding package from HSBC UK to source and secure a growing number of vehicle parts such as bonnets and bumpers globally, ensuring customers have more options available when seeking repairs to their vehicles.

The funding package will enable Trade Vehicle Parts to import core stock from countries around the world including Taiwan, China, and Poland. The deal also sees the business utilise HSBC UK’s Global Wallet. This multi-currency virtual account allows Trade Vehicle Parts to make and receive international payments using local account details, making it easier to purchase car parts in bulk, lowering costs and increasing revenue.

The funding package from HSBC UK also includes a refinancing of the commercial mortgage for its 17000 sq. ft. Melton Mowbray headquarters which will benefit by keeping all repayments in one place with HSBC UK consolidating its finance and benefiting from HSBC UK’s competitive rates.

The deal with HSBC UK is expected to result in a 50 percent increase in turnover for Trade Vehicle Parts over the next three years, building on the steady growth the company have experienced up to now.

Deyan Petrovski, Owner & Director at Trade Vehicle Parts, said: “This funding from HSBC UK is a crucial milestone in our growth journey. Operating in an industry where working closely with international suppliers is so important, we are grateful for the ability to maximise our cashflow due to HSBC’s international footprint.”

Kim King, Deputy Area Director at HSBC UK, added: “Trade Vehicle Parts is an ambitious business which provides a fantastic and essential service to vehicle owners and organisations across the country. We’re pleased to assist the business’s growth with domestic and international support.”

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