GE CAPITAL Fleet Services is investing £650,000 in new workshops and facilities to refurbish end-of-contract vehicles in a bid to boost residual values.

The investment is at the workshops of Evesham-based Leasecontracts, part of the GE Capital Fleet Services group, and will also serve vehicles from sister companies Avis Fleet Services and Cochranes Fleet Services. Leasecontracts, which was bought by GE last year, has always refurbished many of its vehicles before disposal. However, it is a new move for the other two companies.

The improved facilities are expected to result in a 50% increase in the number of vehicles - largely Mercedes-Benz, Jaguar and BMW and other 'blue chip' vehicles - being refurbished. In total, some 18,000 square feet of state-of-the-art mechanical and body workshops are to be built, complementing the advanced three-bay hi-tech paintshop set-up by Leasecontracts three years ago. Work is expected to be completed by August.