Wet-stock monitoring specialist Fairbanks has secured contracts in Northern Ireland and the Republic of Ireland with fuel retailers Applegreen and Topaz Energy supplying its real-time data monitoring and wetstock management services.

Henderson Group has also re-signed its current deal to use Fairbanks’ real-time data management as well as statistical inventory reconciliation (SIR) analysis to minimise stock losses.

Hillary Barret, head of fuel at Applegreen – part of the Petrogas group which currently operates 88 sites – said the company chose Fairbanks as it provided the most complete and specialised service: “We have looked at many ways of managing our fuels and I found that Fairbanks offer a comprehensive service monitoring performance on our sites. The Fairbanks team has worked  hard to tailor a package meeting our operating and reporting needs, providing us with peace of mind and the knowledge we are operating efficiently. Any issue detected is resolved within a matter of days or even hours.”

Additionally a new deal between Fairbanks and Topaz Energy has been finalised creating an exclusive deal for Topaz dealers to use Fairbanks services. Since it began trading under the Topaz brand, the company has become one of the largest fuel retailers in Ireland covering 350 stores.

Dealer business manager for Topaz, Jonathan Diver, said: “We are very pleased to have agreed an exclusive package for our dealers enabling them to access the excellent wetstock management services provided by Fairbanks.

"The deal gives our dealers the security of knowing that their wetstock is monitored 24/7 allowing them to concentrate on delivering a high standard of service to their customers. In addition Fairbanks services allow our dealers to view live stock levels as well as a range of useful management reports across all of their sites giving them the knowledge that they are operating efficiently and securely. By utilising these services we can be confident that losses will be identified and managed faster and more efficiently than before.”

Operating as part of the Henderson Group, Henderson Retail is the biggest independent fuel retailer in Northern Ireland with over 50 sites already on contract with Fairbanks. Henderson currently uses both Fairbanks real-time stock monitoring through the use of their iBank device, which allows instant data collection as well as giving retailers access to live stock levels and a variety of management reports, as well as SIR analysis.

“We are delighted to have renewed our agreement with Fairbanks ," said Ron Whitten, finance director for Henderson Retail. "Fairbanks has installed its real-time data analysis service (iBank) on a number of our sites and the rest use the company’s SIR service. In addition, Fairbanks visits sites every year to complete a site inspection and pump measure check which identifies any over-dispensing pumps, saving the business a considerable amount of money.

“With the increasing legislative burden on companies and their directors, coupled with our strong group commitment to Corporate social responsibility and the environment, the expertise that the Fairbanks scientific analysis of our wetstock records brings offers us considerable confidence we are in the best position to manage and respond quickly across the wide estate of forecourt stores in our portfolio” .

Fairbanks now monitors over 36,000 tanks in 34 countries worldwide, and employs more than 80 people in Lancashire with an additional 20 field-based engineers located around the UK.