Tyrone firm clinches £2m taxi deal
Published 11/08/2009 | 17:10
A Co Tyrone company has secured a deal with Fiat Ireland potentially worth more than £2million to convert one of their vehicles into wheelchair accessible taxis.
Dungannon based Premier Vehicle Solutions (PVS) has secured the deal with help from Invest NI and the EU.
The company specialises in the conversion of taxis, minibuses and vans from a range of global vehicle manufacturers so they comply with accessibility legislation.
The company has invested £125,000 - £34,000 of which came from Invest NI- in developing the capability to convert a specific Fiat model - the Scudo - into a wheelchair accessible vehicle.
Within three months it has resulted in a significant contract to convert and initially supply 50 such taxis for Fiat Ireland.
As they are sold to customers the deal will see PVS supply more converted taxis to replenish the Fiat stock.
Kevin Quinn, managing director of PVS said: "This contract with Fiat Ireland is our first significant deal outside Northern Ireland since we developed the capability to convert the Fiat Scudo to the necessary legislative standard.
"It represents a real breakthrough for our company and we will continue to target customers in the Republic of Ireland and other EU countries to increase our profits."
He said the final converted product would have a number of advanced functions including added security features, allow more space for wheelchairs, and have improved internal electronics such as taxi fare meters, receipt printing and intercom.
Bill Scott, Invest NI's director of engineering and business services, said PVS had demonstrated a high level of entrepreneurship by recognising and exploiting the gap in the Republic of Ireland market for high-specification converted vehicles.
"The company is now reaping the benefits of targeting external markets, through this lucrative contract with Fiat Ireland.
"A clear focus on product and process development has resulted in this deal, demonstrating the importance of innovation for business success."