Independent oil distribution company Oil 4 Wales has invested £500,000 updating its truck fleet to aid its expansion plans in Wales.
The Nantycaws based company that was set up by Colin Owens, formerly of Owen Fuels, has replaced four of its 10 fleet so that all vehicles are under two years old.
With two new DAF trucks from Watts Swansea and two new Volvo trucks from Mansel Davies & Son, the vehicles have been secured as part of a seven year contract maintenance deal.
This is the latest move from Oil 4 Wales as the company eyes up growth in mid and north Wales.
Managing director Colin Owens said: “We have invested in four new trucks to provide us with greater efficiency and reliability as we continue with our expansion plans. We have struck up good deals with two local suppliers and we can now be confident that our modernised fleet will take us through the next phase of our growth.
“Since establishing Oil 4 Wales last year, we have grown the company significantly in south Wales and we now have plans on growing our presence in mid and north Wales to fulfil our ambitions of becoming the oil brand for Wales.”
The Carmarthen-based company that was founded with the mission of becoming the oil brand for Wales ended its first year with a £40m turnover and now plans to grow the business in its second year to £80m, according to Owens.
"Supplying 11,500 customers in Wales through domestic, commercial, agricultural and retail oil services with a chain of 15 petrol stations, the company has been well supported by those keen to see the success of a truly independent Welsh oil brand," he said.
Owens has an established history in the oil industry having initially founded Owen Fuels in 1991 with the support of major shareholder O J Williams before building it into the largest oil company in Wales and selling it at its peak, with turnover at £350m, to Texaco Ltd (now owned by GB Oils) in 1997.
Owens resigned from GB Oils in 2009 and spent a year’s stint as general manager at Ffos Las Racecourse in west Wales, before returning to the oil industry in 2011 with the establishment of Oil 4 Wales.