Major manufacturer Legrand mulls Northumberland expansion which could create scores of skilled jobs
A major manufacturer is exploring options for expansion into the North East in moves which could create scores of new skilled jobs. Legrand already has six bases in the UK, including its Birmingham headquarters and sites in Wembley, Scarborough and Consett, but planning documents show that the company is looking for a new base set closer to the offshore renewable energy sector. The company, part of the global French-owned Legrand group which turned over €2.03bn in the first quarter of this year, is an electrical and digital infrastructure with its 800 UK employees working across four business units including cable management, critical power, digital infrastructures, and working and living spaces. Read more: Footwear firm Charles Clinkard announces two North East store closures Read more: North East betting tech firm AceOdds snapped up in £36m deal by Danish group In plans which could see it launch in the region, Legrand has applied for permission to build a new manufacturing facility at Nelson Park in Cramlington, Northumberland. The firm has enlisted FaulknerBrowns architects and Lichfields planning consultancy to secure planning permission for the plant, which will include a manufacturing building, associated service yard, car parking, access and soft landscaping. The site would cover 40,009 sq ft with a 17,006 sq ft service yard and 107 car parking spaces. This would include accessible spaces, EV charging points and motorbike spaces. It is understood the firm has not made firm plans to open in Northumberland, but Lichfields’ opening letter to planners says the move would create 200 jobs. The letter says: “In order to facilitate the relocation of Legrand, a global specialist and digital infrastructure company, to Cramlington, a manufacturing facility is proposed at the site. Legrand employs 38,000 people worldwide, and approximately 800 people in the UK. “Legrand are currently based in Wembley in the UK but are seeking a new base in closer proximity to the offshore renewable energy sector and associated skills base in South East Northumberland. The relocation from London to the North East would provide synergy and shared skills with existing facilities in Blyth as well as creating skilled jobs in Cramlington. The proposed manufacturing facility at Nelson Park would facilitate the relocation of Legrand to Northumberland and create around 200 new jobs.”
Plastics firm Coral Products brings back dividend and plots acquisitions
Plastics group Coral Products is reinstating its dividend after starting a business transformation following a profit warning earlier this year. In a trading update in January, Coral announced that customer orders had fallen and that profits would be below management and market expectations. It also suspended the interim dividend that it had previously announced. Now the Wythenshawe firm has issued a new update confirming trading is in line with those updated expectations. It said revenue for the year to April 30 was set to come in at over £31m, down from £35.2m in 2023, while underlying EBITDA “is expected to be not less than £3.2m”, down from last year’s £3.9m. GENERAL ELECTION: Take our BusinessLive North West election survey The group said it intended to reinstate an interim FY24 dividend of 25p to shareholders in August, and said it would also propose a final dividend. Coral was founded in 1989 and was originally known as a manufacturer of VHS boxers and CD cases. Over the years it has acquired several businesses, including Ecodeck Recycled Plastics in May 2023 and Manplas in September 2022. CEO Lance Burn joined the group on January 2 and pledged a “comprehensive review” of its operations. Today he said: "We quickly recognised and communicated the adverse commercial impact experienced in our industry towards the end of 2023 and as a result, have been able to implement corrective commercial measures and organisational reform. “We are pleased to say that we are beginning to see improvements in most of our markets, whilst being mindful of the continuing economic and geopolitical uncertainty. “We have created a focused and accountable new two-division structure which is delivering performance and margin improvement through innovation, simplification and efficiency. We have exited low margin revenue streams in order to focus on profitability. “Our recent investment of over £3m in new manufacturing capabilities is now fully commissioned serving new commercial channels and customers. This capital expenditure is expected to benefit the current financial year. “We also continue to strengthen our organisation to support our four strategic pillars of growth: Successfully managing complex commercial, product and service solutions. Excelling at UK manufacturing and technical innovation. Greater margin efficiency through investment in technology and people. Accessing commercial opportunity, scale and synergy through M&A. “I am pleased to see so much progress in such a brief time since I became CEO and I would like to thank my new colleagues for their support and effort as we accelerate a positive transformation of our business in pursuit of growth."
Gloucestershire businessman named in King's birthday honours
A Gloucestershire businessman has been awarded an MBE in the King's birthday honours list. Robert (Bob) Griffin, owner of trike manufacturer Tomcat, received the accolade for his contribution to engineering and improving the lives of people with disabilities. Mr Griffin set up Tomcat 26 years ago to help people with learning or sensory impairments, including children, to cycle. He wanted to find a solution to help his son Tom who had Angelman’s syndrome - a disability that causes severe learning difficulties, sleep disturbance and poor coordination. His first invention - the Carer Control system - was designed in 1997 and has revolutionised the cycling experience for thousands of individuals worldwide for over two decades. His later designs have opened countless opportunities for individuals with a disability or mobility condition, enabling greater independence and freedom. He said: “A few things came together for me in 1997. A job I didn’t like, the want to help my disabled son Tom achieve more in life, a chance to challenge my engineering skills and a glimpse of how the less able can become more able, once given the chance. “I took the plunge and walked through an open door into a world where everyone was grateful for your help, or wanted to help you in what you were doing through their knowledge and skill. Sometimes easy, sometimes difficult, the journey has always been its own reward, but to receive this MBE in recognition of that journey is undoubtedly the proudest moment of my life and a tribute to so many others who’ve been with me along the way.” Mike Dawson, previous chief executive at Tewkesbury Borough Council, was one of the people who supported Mr Griffin’s nomination for a national honour. He said: “Bob’s contributions to both engineering and the disabled community are truly outstanding. He has built one of Tewkesbury Borough’s and Gloucestershire’s most successful businesses." He added: "His inventions have brought joy and freedom to so many, he is an amazing man, and this MBE is a well-deserved acknowledgement of his tireless efforts and remarkable achievements.”
North Wales operation of pharma giant Wockhardt secures £20m new facility to expand
North Wales-based pharmaceutical manufacturer, Wockhardt, had secured a new £20m lending facility to support its expansion plans. The Indian-owned business,. which has a global presence, has been backed by NatWest. The debt advisory team of professional advisory firm RSM acted for Wockhardt on the funding deal. Established in 1950, Wockhardt UK, employs more than 400 at its UK factory in Wrexham. During the pandemic it produced the Astra Zeneca Covid vaccine for the UK Government. This saw it manufacturing more than 100 million doses. Read More: The latest equity deals in Wales Read More: Devolution of rail a process not an event says Welsh Government Its UK managing director, Ravi Limaye, said the funding will able to deliver its next phase of growth in the UK and support its global vaccine programme, which includes investing in new machines and rolling out multiple vaccines. He added: “Working with the RSM team and securing this inward investment means we are able to realise our facility upgrade plan, further demonstrating our commitment to supplying high quality medicines to those that need them the most.” RSM’s Ashley Suter, Jack Williams, Matthew Kells and Alexander Harris advised Wockhardt on the funding package. Eversheds and Hill Dickinson provided legal advice on the deal.
Why North West is at the heart of the UK's electric vehicle transformation
The first electric vehicle I saw outside the SMMT conference was a white Tesla. The first I saw inside was a white Sinclair C5. The slideshows spoke of billions of pounds of upcoming hi-tech investment. Electric vehicles have been on quite a journey. The North West is at the heart of Britain’s electric vehicle transformation with hundreds of millions of pounds of investment on the way - and there could be more success to come if the automotive industry gets the government backing it needs. The Society of Motor Manufacturers and Traders (SMMT) this week held its Regional Forum in Liverpool for the first time, and chose to focus on electric vehicles. The key local manufacturers were all represented at the conference - and all of them are seeing huge investments in their electric vehicle capacity and into reducing their carbon footprint. Don't miss the latest news and analysis with our regular North West newsletters - sign up here for free. JLR employs thousands in Halewood, while more than 1,000 people work at Stellantis’ former Vauxhall plant in Ellesmere Port and hundreds work at Ford’s transmissions plant in Halewood. Meanwhile Bentley employs 4,000 in Crewe, while Leyland Trucks employs more than 1,000 in Lancashire. And beyond the big names there are many suppliers in the region, who also employ thousands and will also play key roles in greening the sector. But the industry is not without its challenges - not least a need for more government support for EVs and their infrastructure, whoever wins the upcoming general election. The Sinclair C5 was an 80s experiment in electric vehicles that failed. It's a reminder that electric vehicles haven’t always been fashionable, and traditional internal combustion engine (ICE) vehicles continue to dominate the market. But the sheer scale of the investments detailed at this conference show electric vehicles are now mainstream, and the industry is only going to get bigger. Mike Hawes, chief executive of the SMMT, agrees the region is a European leader in the push towards electric vehicles - and says that is a tribute to the success of its plants and its workers. He said: “Last year, some £20bn was committed to the UK automotive industry which was more than the previous seven years put together… and a significant portion of that has gone into the North West. “Everyone has been setting out their strategy to shift from fossil fuel vehicles to electric vehicles because that is the future. It's not going to be a smooth road to get there but everyone recognises that that is the future.” But the industry does face some major challenges if it is to keep growing. One such challenge - which came up several times in the conference - is that government needs to offer incentives to car buyers to encourage them to go electric. The current Government has given lots of support to manufacturers to encourage them to build EVs, and manufacturers will have to make a certain proportion of their output electric to comply with net zero regulations. But consumer demand for EVs has slowed - leaving manufacturers questioning their massive infrastructure investments. Mr Hawes said: “Those investments only make sense if you have a relatively strong domestic market for those products. Otherwise why would you build them here? “So to then have a statement from the Prime Minister Rishi Sunak to say to the consumer we're not going to force you to buy a heatpump, to change a boiler, or to buy an EV, and to then publish a regulation which compels the manufacturer to sell these vehicles… if you're a consumer you're thinking 'What does this mean? I'm told I don't have to buy one, but the manufacturers are being told they must sell them…’ “Undoubtedly it's a new technology, so it's more expensive, so you need some form of incentive to help overcome that upfront purchase cost. We think halving VAT… would put about 250,000 EVs on the road.” Another Government investment requested by many in the industry is a strong commitment to investment in public EV charging points. Mr Hawes asked: “If I'm going to invest in one of these vehicles, can I be sure wherever I go, I'm going to be able to charge it? “If you live at home with a driveway, that's fabulous. But if you don't, you live in an apartment, a flat, or a terraced house, and you don't have that dedicated space, you're at the mercy of public charging. That needs to accelerate. Its getting better, but it needs to accelerate.” Mr Hawes also had an eye on the general election. He said the next Government, whatever its colour, would need to reiterate its support for the automotive sector - and should work to build trade relationships with the major markets on which it depends. And he said the Government also needed to offer support on regulations and red tape, particularly as the UK diverged from Europe following Brexit. He said: “We're a very highly-regulated sector. Consumers don't see this necessarily because they only see the vehicle, but to put a vehicle on the road there is a huge amount of complicated regulation you must meet. “What we don't want to see is UK regulation differing from other international regulatory frameworks.” He added that the SMMT’s request was for the Government to “have an industrial strategy which supports manufacturing in terms of competitiveness, energy costs, skills, and obviously a strong market.” Simon Reid, assistant director for business growth at Liverpool City Region Combined Authority, said the city region and its surroundings, including Ellesmere Port, was an “epicentre of automotive manufacturing”. He said: “It’s in our interest to make sure the automotive sector sees growth because it’s high quality jobs, very productive, and secures our economic growth for the next 15/20 years.” JLR, formerly Jaguar Land Rover, announced last year that Halewood was to become the group’s first all-electric plant under the group’s £15bn Reimagine strategy to “reposition the company as an electric-first, modern luxury carmaker by 2030”. The plant is now undergoing an investment programme so it can start building a new all-electric mid-sized Range Rover that is set to go on the market next year. JLR has also confirmed that Halewood will then also build another electric vehicle based on the same EMA platform. Trevor Leeks, operations director at JLR Halewood, said investment at Halewood over the past 18 months included a new body shop, and improvements to its Body Construction centre that will see robots used to automate the fixing of doors onto vehicles. He added: “Vehicles have got larger, so we've had to make modifications in our paint shop. Last year we had to cut 1.5 metres of ovens down the middle and extend them by a metre because the cars are getting bigger.” Meanwhile thousands of employees across the group are being trained in electrification. Mr Leeks said: “The building work is coming to an end. The installation and commissioning is where we're at at the moment - which is the exciting part of launching new vehicles.” He added: “We’re starting to build some of the early builds this year, and training our employees - there’s lots of training hours going in - getting ready for the full launch next year.” Some 4,500 people work at Halewood, with 3,500 employed directly by JLR and another 1,000 employed through partners such as DHL. Mr Leeks says the EV investment at Halewood is good news for their long-term future. He said: “We celebrated 60 years of manufacturing last year. There's been a huge investment for these new products that are coming over the next few years. So we’re very positive about the future of JLR and Halewood in particular.” Ford is investing a total of £355m in its Halewood plant to get it fit for the electric vehicle future. The company said Halewood was “integral” to its global transition to electric vehicles. Halewood will build the electric vehicle propulsion systems that replace the engines and transmission systems used in traditional ICE vehicles. Ford Halewood’s plant manager Lee Meyers told BusinessLive the site’s transition team had recently passed the million-hour landmark in their work - and that there was still more work to go both physically and in terms of training the site’s 600 staff. He said: “We're at the commissioning phase and trial run phase now, so there are some really interesting things to see. “We've transferred a lot of our skills, where we had significant expertise around gear machining and so on, but we also had a steep learning curve around things associated with the electric motors. For example, we've got welding processes that take 0.7 of a millisecond! “So it's really a significant upskilling, but the team have been fantastic in terms of their adaptability.” The Stellantis plant at Ellesmere Port may sit just outside Liverpool city region’s boundaries but has drawn many of its employees from Merseyside since it opened 60 years ago this month. Stellantis owns a panoply of global brands, from Alfa Romeo and Maserati to Chrysler and Vauxhall. Its Cheshire site was best known for its giant sign saying Vauxhall Ellesmere Port - Home of the Astra. Now there’s another sign - Electrifying Britain. Stellantis Ellesmere Port is now the UK’s biggest plant dedicated entirely to electric vehicles, with more than 1,000 people working onsite, and plant director Diane Miller said the group had invested £100m in its transformation. She told the automotive leaders that this is a “pivotal moment in automotive industry and we need to make a difference”. And she told them: “As industry leaders we have the power and responsibility to lead this change”. Ellesmere Port now focuses on electric cars and vans, including the Vauxhall Combo-e Life and Citroën e-Berlingo. The transformation has even included reducing the plant’s physical footprint to make it more efficient - the site’s bodyshop was moved to a space a fifth the size of its original home. Stellantis has also made a point of reusing and reallocating equipment from across the group, rather than scrapping or buying afresh - Ms Miller said one of Ellesmere Port’s injection moulding machines came from a plant in Serbia. The luxury car market is also looking to become more sustainable - as shown by the transformation project underway at Bentley, in Crewe. Andreas Lehe, board member for manufacturing at Bentley, said: “The original Bentley boys were pioneers and leaders”. And he said he wanted Bentley to be the “world benchmark for luxury cars”, and to become a leader in sustainable luxury mobility. Mr Lehe - who joked: “I’m an engineer, I like processes, so let’s go through step by step”., talked the conference through the company’s road map to decarbonisation, which was launched in 2011. In the past decade, Bentley has helped cut the amount of waste going to landfill by 99%, and by using rainwater harvesting has been able to cut water use by 69%. Bentley is spending £300m over 5 years in transforming the plant - including the creation of its multicoloured “dream factory” paint shop. Later, Mr Lehe was asked about how companies such as Bentley could balance the push towards electric vehicles with continuing demand in some parts of the world for ICE vehicles. He said the group would retain the flexibility to produce electric and ICE cars. And he added: ““In the luxury sector you could not force people in a direction (to buy electric cars) because they do not like to be forced. They like to make a decision.” It’s not just passenger vehicles that are going electric - lorries and commercial vehicles will also need to evolve. Peter Ahrens, managing director of Lancashire’s Leyland Trucks, said the industry was starting its move away from traditional ICE vehicles, looking at electric power and alternative fuel sources. He said: “One thing that is for certain is that we will not have the one-size fits all route we have seen with diesel engines” He said ICE enghones would continue to exist, becoming cleaner and more efficient, while smaller vans could switch to hybrid engines. Biofuels and other alternative fuels could become more widespread, with Government support, but Mr Ahrens said battery electric vehicles (BEV) would be “dominant” in the medium term. Even for that to happen, he said, there would need to be more investment in more public electric charging infrastructure. Leyaland is now part of US group Paccar, which Mr Ahrens proudly said had delivered annual profits for 85 consecutive years. Last year the Paccar group delivered more than 200,000 truck globally. Mr Ahrens said: “Paccar believes in BEV solutions and we will continue to invest”. But he said the group was also investing in the development of other technologies, adding: “We have proven that hydrogen combustion engines work”. Mr Ahrens ended with a series of “calls to action” to suppliers and partners in the industry. He urged suppliers to do their bit in greening the industry, and said: “I cannot produce a carbon neutral lorry without all of you producing carbon neutral parts”. The most high-profile automotive firms in the North West are the big brands such as JLR and Vauxhall. But those firms could not operate without a network of suppliers and logistics firms, large and small. The second session of the conference featured speakers two key partner businesses alongside Mr Leeks from JLR and Mr Meyers from Ford. Paul Cross, senior business development director - auto-mobility at DHL, talked about his company’s work in the automotive ecosystem in areas from just in time delivery to specialist battery storage. The company has facilities at Liverpool docks, and also has a facility at Skelmersdale that it is looking to develop into “the next EV centre of excellence”. Adient makes seats for car manufacturers including Nissan and Toyota, with dedicated factories near those firms’ UK manufacturing sites. Its Liverpool site supplies JLR’s Halewood complex. Steve Semple, Adient platform director for JLR, Nissan and Toyota, explained his company's ongoing work to improve its environmental performance - including cutting energy and water use at its Liverpool site. He said Adient engineers were also working to make seats greener, such as looking to use more recycled metals and discovering new ways to recycle or reuse foam. The Sinclair C5 was on show on a stand run by Forteq, which made plastic parts for the vehiocle and has remained one of the leading global parts suppliers to the automotive sector. Earlier in the day, SMMT CEO Mike Hawes laughed when asked whether the C5 and its high-profile failure had set back the development of EVs. “It was before my time,” he smiled. “You can always go back and look at history - look at some of the old editions of Tomorrow's World, and what we were going to be doing in the future. Some of it was quite prescient, other ideas were just cul de sacs.” It has taken some time for EVs to go mainstream. But now they have, and North West manufacturers are leading the way. Mr Haews said: “Electric vehicles, even going back 20 years, were very limited in range, very small, one or two seats. Whereas now, just about any vehicle segment you can think of, including heavy-duty trucks, is electrifying. And it shows you how fast the technology has been advancing. And it will still get better.”
Aston Martin strikes new pay deal with union and staff
Luxury sports car brand Aston Martin has agreed a new long-term pay deal with staff. The company said it had increased pay and committed to reducing the contractual hours of manufacturing technicians in 2025. More than 2,500 eligible Aston Martin employees and contractors across its UK manufacturing sites and offices in Warwickshire and St Athan, South Wales, are to benefit from the new deal. It provides a four per cent annual pay increase for its general staff in 2024 and 2025. In addition, manufacturing technicians at the company will receive a 1.5 per cent rise in 2025 alongside a reduction in working time by the equivalent of one hour in the working week, with the goal of boosting productivity and supporting employee wellbeing. BusinessLive is your home for business news from around the country - and you can stay in touch with all the latest news through our email alerts. You can sign up to receive morning news bulletins from every region we cover and to weekly email bulletins covering key economic sectors from manufacturing to technology and enterprise. And we'll send out breaking news alerts for any stories we think you can't miss. Visit our email preference centre to sign up to all the latest news from BusinessLive. All eligible employees will also receive a one-off payment of £1,000. This latest deal adds to an employee share scheme launched last year which has awarded all employees a stake in the company and the opportunity to share in its success. Chief people officer Simon Smith said: "Achieved through our positive working relationship with trade union colleagues, this new agreement recognises our commitment to putting people at the very heart of our organisation and making Aston Martin a great place to work. "It builds on our continued support for colleagues with the high cost of living and throughout the Covid-19 pandemic. "In addition to rewarding our skilled and dedicated employees, this agreement also promotes talent retention, providing labour certainty for the business as we enter an important period of production, with the ramp up of new models that will support the company's financial goals in 2024 and beyond." Trade union Unite said in a statement: "Following lengthy negotiations between Unite the Union and Aston Martin, our members have voted in large majority to accept the two-year pay deal.
Prima Cheese expands into London amid ambitions to grow overseas trade
Food firm Prima Cheese has expanded into London with a new office and retail space amid efforts to boost international trade. The County Durham dairy specialist, which specialises in shredded cheese for pizza toppings, has opened new premises in north London via its property company Prima Projects. 'Prima South' is located on Islington's Holloway Road in The Billiard Factory property which is home to a number of creative businesses and adjacent to the National Youth Theatre. It says the move is part of plans for growth in 2024, including pursuing more overseas trade opportunity. Prima already exports to 50 countries and in 2023 generated turnover of more than £18.7m outside of the UK. Read more: North East betting tech firm AceOdds snapped up in £36m deal by Danish group Read more: Electric powertrain specialist Saietta failed with deficit of £2.89m, administrators say Last year Prima featured for the fifth time in the North East's Fastest 50 list of fast-growing, privately owned businesses. It also reported "change and innovation" across the business as it invested amid a rise in turnover. In the year to March 31, 2023 it grew turnover by 32% to £121.7m. Over the same period, operating profit fell to £3.7m from more than £5m, though the firm grew its headcount slightly to 166. The acquisition of the Prima South space was advised by Sintons' partner Alok Loomba, partner, supported by Chris Jackson, senior associate. Mr Loomba, a long time advisor to Prima, said: "Prima Cheese was founded in 1996 and since then it’s grown to become one of the UK’s leading cheese processing businesses, exporting to countries around the globe. Prima’s is a real success story and the acquisition of this new site in London marks a significant milestone in its growth, opening doors to new markets in the UK and beyond.” Nagma Ebanks-Beni, co-CEO of Prima Cheese, said: "More than 25 years ago, Prima started operating out of a small industrial unit in County Durham; but we had big plans and today we’re one of the largest exporters in the North East. Our new London base is a key part of our growth strategy and Alok and his team moved quickly to help us secure the premises we wanted in what was a competitive and fast-moving environment."
Aptamer Group seals two significant deals worth £235,000
Life sciences firm Aptamer Group has announced two significant deals worth a combined £235,000. The York based operator was launched on AIM in 2021 to maximise the potential of its Optimer binder technology in applications across life sciences and other industries. Its latest deal wins have seen it secure a contract valued at up to £175,000 with a top five pharmaceutical company, and a deal worth up to £60,000 with a global provider of specialty enzymes used widely throughout the life sciences sector. As part of the first contract, Aptamer will develop Optimer binders for use in immunohistochemistry applications. In a stock announcement Aptamer said that following development, the firm’s binders could be used to support the top five partner’s drug development pipeline, resulting in royalties and possible licencing revenues for Aptamer. The agreement marks the sixth contract with the pharmaceutical partner. The second contract will see Aptamer develop Optimer binders which will be incorporated into life science and diagnostic assay kits. Aptamer Group added it will “earn milestone payments upon successful commercialisation and downstream high single digit royalties from the gross sales of all kits containing the developed Optimer. Sales could commence as early as 2025”. Dr Arron Tolley, chief technical officer of Aptamer Group, said: “The repeat business from another of our top-five pharma partner validates the power of the Optimer platform to solve intractable problems associated with traditional ligands like antibodies in the area of immunohistochemistry (IHC) and supports our new business and patenting strategy. These smaller royalty bearing agreements to develop Optimer binders aligns with our business model to develop a diversified pipeline of technologies to deliver licence agreements across the life science sector. Unfortunately, due to confidentiality we cannot disclose the name of the partner or any other terms of the deal.
Bentley 'disappointed' at GMB strike vote
Bentley says it remains committed to reaching an agreement with GMB members at its Crewe plant despite news that they have "overwhelmingly" backed industrial action. The union said more than 250 workers - some 86% of its membership at the site - backed strike action. It said the vote came after workers were offered a 3.5% rise with a one off non-consolidated payment, "while bosses were offered bonuses of over £14,000." The union said it had also successfully stopped the introduction of a new Fit for Work policy. Karen Lewis, GMB regional organiser, said: “While bosses are receiving big bonuses, the workers who make the cars that deliver the company’s profits are offered a pittance. “In the worst cost of living crisis for a generation this just isn’t good enough. They need to engage with GMB as a matter of urgency – not ignore workers’ concerns. “We will always stand with working people who demand a fairer deal.” In a statement, Bentley said: "Through close collaboration with our trade union partners we have made a fair and sustainable pay deal offer to colleagues. This includes a 3.5 per cent annual pay increase, individual one-off payments of £2050 and an additional four weeks company sick pay allowance. "We are disappointed that a small minority, less than six per cent, of our workforce have taken the decision to vote for industrial action and we are currently reviewing the next steps. We remain committed to working with our Unions and colleagues to reach an agreement."
Saltend Chemicals Park to get sustainable aviation fuel demonstrator plant
A sustainable aviation fuel demonstration plant is set to take shape at Saltend Chemicals Park thanks to a deal university spin-out OXCCU. The Oxford-based firm, which is backed by the likes of United Airlines and Trafigura, is developing a process to turn carbon dioxide and hydrogen into hydrocarbons for use in fuels, plastics and chemicals. Following an agreement with Saltend owner px Group, OXCCU will set up a plant that is expected to produce 200 litres of liquid fuel per day, the majority of which will be sustainable aviation fuel. It is being described as the first of its kind plant and will use the hydrogenation process which is fed by green hydrogen and biogenic carbon dioxide - that is CO2 produced by living organisms. The method is said to reduce a multi-stage process into a single step. Read more: Plans submitted for 300-acre industrial and manufacturing park at Goole Freeport Read more: Tyneside tech firm Emerchantpay sees revenues rise to $145m as global growth continues Plans are in place to start production in 2026, with px Group providing the engineering design and construction of the 'Outside Battery Limits' part of the facility and maintenance when the plant is up and running. Geoff Holmes, CEO of px Group, said: “We are truly excited to be working with OXCCU on a world’s first project that will shape the long-term sustainability of the UK aviation industry. At px Group we are passionate about cutting CO2 emissions and helping the UK to meet its sustainability ambitions. "This groundbreaking project with OXCCU further meets this commitment and demonstrates the confidence in Saltend as a pioneering centre for industrial decarbonisation projects.” Andrew Symes, CEO of OXCCU, said: "The strategic combination of OXCCU's highly efficient novel catalyst and process with px Group's world leading facilities creates the perfect environment for us to scale-up. This project will demonstrate CO2 and hydrogen directly converted into jet fuel-range hydrocarbons and the potential for much lower cost SAF. We look forward to working with px Group on this exciting step for the global aviation industry.” The plant will follow Equinor's 600MW hydrogen production plant getting planning permission earlier this year. The project is looking to become part of the Cluster Sequencing Track-1 Expansion process, which will select decarbonisation projects that connect to the East Coast Cluster's carbon capture transport and storage infrastructure by around 2030.
Revenues rocket at Quantum Pharma following major capital investments
Profits and revenues have rocketed at North East medical manufacturer Quantum Pharma on the back of major investments. The Burnopfield-based business manufactures and supplies unlicensed medicines including everything from liquid preparations, tablets, creams, ointments, lotions and gels to ear drops, nasal drops, capsules, enemas and oral syringes. Since 2021 it has been a subsidiary of the Target Healthcare Group, which acquired it from Clinigen Group in a multimillion-pound deal. Accounts for 2023 show revenues rose by 47% to £174.8m, while operating profit increased by 140% from £7.08m to £16.99m. The business has two bases, at Burnopfield and Follingsby, and its employee numbers increased by 58 to 276 workers during the year. At the year end total equity stood at £15.4m, up from £4.7m, and ordinary dividends were paid out amounting to £2.35m. Managing director Lewis Campbell highlighted investments into the company in 2022, which drove up profit and sales in the accounts year. In his report, he said: “Target are a group of companies who are focused on ensuring that patients, no matter their health condition, have access to the medicines they need. The commitment to sourcing medicines applies across unlicensed, generic and branded medicines. The key customers of the business are hospital trusts, pharmaceutical wholesalers and retail pharmacies, located in the United Kingdom. “The company has experienced another year of strong revenue and operating profit growth. The growth in revenue has been driven by capital investment made in the prior period that increased manufacturing capabilities in the year under review. “The manufacturing facilities were expanded significantly in 2022 and this has driven the growth in 2023. The directors are confident that the growth trajectory will continue into 2024 as the company has invested further in its manufacturing capabilities. “Over the course of 2023 there has been significant capital investment in a second site to further support the NHS, this new facility is due to be operational in Q2 2024. Gross profit margin has increased due to the change in the product and customer mix. The directors are always pursuing opportunities to further improve the gross profit of the company.”
Production of new Nissan models sends Unipres profits higher as bosses eye Jaguar Land Rover work
Nissan parts supplier Unipress has seen a significant hike in profits amid demand created by the car maker's e-Power Qashqai model, and has lined up future work with Jaguar Land Rover. Turnover at the Washington-based supplier of press-formed parts saw operating profits rise to £8.99m in 2023, compared with £2.79m the year before. That came amid a more modest increase in turnover from £173.9m to £177.5m. New accounts show staff numbers at the Japanese-owned business increased from 853 to 913 during a year in which it was successfully chosen to supply parts for Nissan's next generation electric vehicle. The documents, signed off at the end of May, show Unipres was also vying for business on the next generation Juke and Qashqai models which will also emerge from the Sunderland factory. Read more: Port of Tyne aims at "generational job opportunities" after strong results Read more: Teesside electronics manufacturer set for growth following multimillion-pound investment deal Meanwhile, bosses said concerns about the lack of semiconductors in the automotive industry were unlikely persist in the future, though they warned about the significant increases in utilities since April 2022 with markets remaining volatile despite Government support offered in 2022 and 2023. Similarly, they said labour costs continued to pose challenges. Despite those headwinds, Unipres said it continued to invest, including £4.2m spent on improvements to ageing machinery and assembly areas. And capital investment is expected to ramp up over the next two years as the firm, which also ran a Honda-supplying plant in Aston near Birmingham until 2021, prepares its production lines for new models. That investment is expected to be funded via a short term, £30m loan facility in place with Japanese lender Mizuho Bank until April 2025. Other borrowings include a long term facility of £25.1m that is split between Mizuho and Japan Bank for International Cooperation that is in place until June 2025. The Washington firm’s parent company in Japan has also promised loan finance where needed. Writing in the accounts, Unipress (UK) director of finance and administration Andrew Fawell said the company had continued to improve performance in 2023 thanks to the easing of semiconductor shortages and the effect of the first full year of Nissan Qashqai e-Power production. He added: “Our ongoing improvement plans supported by UPS ("Unipres Production System") principles along with cost ratio activity will continue to challenge and improve these key performance indicators in 2024. During the year the company achieved 14 of the 15 targeted KPls, which is the second consecutive year an outstanding achievement. These tools are key to ensure resources focus in the area that will enhance profitability.”
Electroplating specialist BEP Surface Technologies buys Yorkshire consultancy Plating Solutions
An electroplating specialist has acquired an internationally-focused consultancy as it continues its growth plans. BEP Surface Technologies, based in Radcliffe, Bury, has taken over Huddersfield specialised metal finishing plant design and equipment consultancy Plating Solutions. The Yorkshire firm was founded 20 years ago by John Torr. The BEP deal, whose value has not been disclosed, will allow for Mr Torr's eventual retirement as he takes a consultant’s role and leads a team of commercial staff and chemical engineers. READ MORE: High voltage specialist Excalon acquired by Renew for £26m GENERAL ELECTION: Take our BusinessLive North West election survey BEP operates in the plastics, defence, energy, power generation, and nuclear sectors, with specialisms in areas including electric vehicle battery production. BEP works with international governments, academia and businesses to address business challenges in existing and emerging sectors. Recent work has included developing a novel graphene-impregnated copper coating in partnership with the Graphene Engineering Innovation Centre (GEIC) in Manchester, and working on research into the development of copper-coated containers for global nuclear waste management organisations. It says the deal marks a "significant" expansion and positions BEP as a leading player in the UK’s metal plating and specialty chemicals trading sector. Andrew McClusky, managing director of BEP Surface Technologies, said: "We are thrilled to welcome John Torr and the Plating Solutions clients into the BEP family. John's unparalleled expertise and dedication to advancing surface technologies perfectly align with our mission to drive innovation and excellence in engineering.” BEP recently launched BEP Solutions to accelerate international R&D partnerships to help solve global challenges in surface coating. Mr McClusky added: “John’s stellar reputation in innovation and problem-solving has been instrumental in providing cutting-edge solutions to clients across the UK and internationally. "Our recently launched innovation arm, BEP Solutions, will benefit from his deep understanding of process chemistry and commitment to excellence, which have earned him recognition as a leader in the field.” John Torr has more than 55 years of experience developing pioneering electroplating solutions. He said: "Joining forces with BEP Solutions presents an exciting opportunity for me to share my expertise. I am confident that we will continue to deliver exceptional solutions while driving innovation in metal plating. I look forward to contributing to BEP's visionary projects and leading a team of passionate professionals toward new heights of success."
Tumble dryer factory could close, putting 150 jobs at risk
A tumble dryer factory in South Gloucestershire could be closed down, putting 150 jobs at risk. Beko Europe confirmed that its subsidiary - Hotpoint UK Appliances - has entered consultation with staff over its facility in Yate. The site currently produces tumble dryers for the UK and Ireland markets. Beko said its products had become "less popular" with consumers who now favoured more energy efficient appliances. It also said the UK was "likely" to adopt EU legislation that means new tumble dryers need to be produced using heat pump technology. "Beko Europe’s proposal, subject to consultation, is that it is not technically or economically feasible to remodel the Yate site to continue operations", the company said in a statement. "It is for these reasons that Beko Europe has announced that its subsidiary will enter into a consultation to explore potentially closing the facility." Beko said staff at Yate would be employed by the company on full pay and benefits while the process was ongoing. Teresa Arbuckle, regional managing director (UK and Ireland) at Beko Europe, said “We know this news will be difficult to hear for our employees, on-site contractors, and the whole community. The Yate site has a superb workforce, with real commitment and strong leadership, and we are grateful for their continued efforts during this challenging time. "The facility has been operating at a significant loss for some time, and over the past few years, despite continued investment in the site, demand for the appliances produced here has rapidly decreased as consumers purchase more advanced and energy efficient models." Beko Europe said it would support employees who may potentially be affected. Unite regional officer John Sweeney said: “The union will be ensuring our members’ best interests are the priority and demanding Beko leaves no stone unturned in seeking alternatives to closure. The potential closure of the Hotpoint factory is deeply worrying news all the workers employed at the site. Unite will now be offering support to our members and entering consultations with the company.” Claire Young, Liberal Democrat MP for Thornbury and Yate, added: “The news will have come as a shock to people, this site has been a local provider of employment for more than 100 years so it has a special place in Yates history.”
Sheffield software firm IntelliAM AI secures £263,000 Digital Innovation Fund award
A subsidiary of Sheffield software specialist IntelliAM has been awarded £263,000 from the Digital Innovation Fund for a research project. IntelliAM AI plc the software company leveraging the power of AI and machine learning in the manufacturing industry, has announced that IntelliAM AI been named as a Lighthouse for AI, resulting in the Lighthouse Funding Award for a research project to be completed during the company’s current financial year. The grant is for research into the application of AI in lubrication analysis, and it has been made by The Smart Manufacturing Data Hub, which is funded by Innovate UK. Lubrication is one of the key drivers of manufacturing downtime, and IntelliAM AI has access to over 180 manufacturing sites in the UK, with lubrication analysis results for thousands of components from the last 10 years. Read more: Construction of Ideal Heating's £19.2m Hull R&D centre under way Read more: Impact Recycling nets £6m investment led by private equity backers The research project will use the data, as well as new data to be collected during the project, to create a model to advise manufacturers and SMEs on best practice lubrication for their components. The firm said: “The project will help reduce machine downtime on manufacturers’ equipment and create resilience against the reduction in engineering skills that we currently have in the UK. Sustainability will be improved as oil will only be replaced when needed.This project will impact the company on three fronts, namely improved internal productivity, new machine learning access to SMEs and a commercial product to increase sales.” News of the funding comes days after the company start trading on the Aquis Stock Exchange Growth Market, raising £5.08m in a placing. The business was formed to use AI models to increase operating efficiencies for clients, and its vision is to harness the power of artificial intelligence through machine learning and to revolutionise asset management within manufacturing.
From second-hand stalls to KSI and Marvel - how a Black Country business is forging a global fanbase for funky mouthguards
It started with pop-up stalls selling second-hand sporting goods at student events and has morphed into a £3.5 million-turnover mouthguard business boasting high-profile relationships with movie franchise Marvel and YouTuber KSI. Safejawz had the humblest of humble beginnings when university friends Ewan Jones and George Dyer were offloading unwanted kit and clothes before deciding to specialise in designing and selling snazzy versions of this otherwise mundane piece of safety equipment. The pair, both 35, are now firmly embedded in the Black Country, with an 11-strong team based at offices and studios in Aldridge and are hoping to show the world that the humble mouthguard can be fun as well as safe. Ewan, who grew up in various towns across the UK and is now based in Cheltenham, opted to study criminology at University of Manchester after being inspired by Eddie Murphy's Beverly Hills Cop movies and was planning a career in either the police or legal sector. He met Erdington native George who was studying business and management and the housemates started to think about teaming up to launch a business after graduating in 2010. Email newsletters BusinessLive is your home for business news from across the West Midlands including Birmingham, the Black Country, Solihull, Coventry and Staffordshire. Click through here to sign up for our email newsletter and also view the broad range of other bulletins we offer including weekly sector-specific updates. We will also send out 'Breaking News' emails for any stories which must be seen right away. LinkedIn For all the latest stories, views and polls, follow our BusinessLive West Midlands LinkedIn page here. Speaking exclusively to BusinessLive, Ewan picks up the story. "It kind of happened slowly. We were selling second-hand sports equipment we would pick up from wholesalers at pop-up events at university and the initial ambition was to have a bricks and mortar sports shop," he said. "We didn't have the capital for that so we had an online sports shop but we realised we couldn't compete with the likes of Sports Direct so had to be more niche. There were a couple of products we honed in on that were selling quite well - one was whistles and the other was mouthguards. "Not only was it something a big portion of the population needed to wear for sport but the sector had also been stagnant for so long. They hadn't changed in years - they were uninspiring, boring and had become that product you had to have because you were told to by your coach or mum. "We really thought we could make it something people actually wanted to wear so that's when we brought out the designs." To fund development and conduct market research, the duo set up a website called The Mouthguard Shop, selling competitor products in order to learn what customers did and did not like. They eventually launched their own mouthguards on that site and it became the best seller which told them they were onto a business winner. Ewan says it took a while to gain traction in the market which he mainly attributes to a lack of capital as the pair have remained staunchly self-funded since day one. That self-funding came via a string of "side hustles and night jobs" which included George working in bars and on construction sites while Ewan was doing shifts as a pub doorman, on-call firefighter and even a best man for hire. Safejawz as a standalone business was established in 2014 but a landmark moment came three years later when they were able to ditch the part-time jobs and concentrate on the business full time. The co-founders called on their own experiences of rugby and boxing to develop the mouthguards, working through 120 different iterations of their chemical compound before landing on the final mix. Safejawz's designs include bright hues, fangs and gold teeth and yes, they even do a simple, single-colour product and, unlike some brands, the guards can be remoulded which is particularly useful as children grow and their teeth mature. Earlier this year, they struck the deal of a lifetime when they became an official licensee of movie giant Marvel which enables them to use superhero graphics on their mouthguards such as Spider-Man, Captain America and Hulk. The tie up is also set to benefit from the forthcoming Deadpool & Wolverine movie which hits UK cinemas in late July. Ewan explains the relationship started by them chancing their arm and sending a speculative email three years ago but this was met with a response saying they were too small for Marvel to work with them. "About a year later, we heard from a licensing account manager saying the company was planning to do more in sports and they felt the link made a lot of sense if we still wanted to explore it," Ewan said. "They sent us a presentation about how it could look - it was an amazing experience to actually be pitched by Disney (Marvel's owner). "That was about two years ago so it's been a long process with lots of due diligence related to finance, intellectual property and legal but it has now finally gone to market. It's a really exciting thing to see it come to life and they've said we could move into other products with the licence." Since launching, they have sold more than one million units and can count England rugby player Joe Marler and Birmingham's own mixed martial artist Leon Edwards among their celebrity fans. But it was a diamond-encrusted piece for YouTuber KSI which really thrust the company into the glare of the national media spotlight. Prepared for his bout with Love Island star Tommy Fury last October, the mouthguard had more than 100 diamonds, 24-carat gold leaf and the logo of KSI's soft drink brand emblazoned across the front. All of this time and craftsmanship meant it carried a hefty market value of £40,000, prompting a fair few enquiries from some wealthy individuals about doing their own pieces. "It's crossed our minds that there could be an elite concierge mouthguard service to add to the business model at some point," Ewan said. The firm's revenue mix is roughly 40 per cent in the UK, the same for the US and the remaining 20 per cent across the rest of the world - a strong global performance which saw the firm receive a King's Awards for Enterprise in the international trade category earlier this year. Latest turnover sits at £3.5 million, with predictions of hitting £5.5 million in their next financial results and expectations of topping £10 million over the next couple of years, boosted by a listing with that high street staple Sports Direct. So what of the future? Ewan says he feels there is still so much growth potential in the domestic and global mouthguard market that this must remain the company's sole focus rather than chasing customers with a raft of new products. He concluded: "The licensing route is definitely something we're looking more at now whereas it was never really a thing for us. "We're open minded to expanding this side of the business but Marvel is going to be a really good test of how that can go.
Robinsons and J2O maker Britvic rejects £3.1bn takeover bid from Carlsberg
Robinsons squash and Tango maker Britvic has rejected a £3.1bn takeover bid from Danish beer giant Carlsberg. The soft drinks group saw its shares jump by as much as 15% on Friday after the Carlsberg approach was revealed. Britvic said it received a proposal from Carlsberg for the whole business on June 11 valuing the company at 1,250p per share, or £3.1 billion. But Britvic said the approach “significantly undervalues Britvic, and its current and future prospects” and rejected the bid days later. It came a week after it rejected a 1,200p per share approach from Carlsberg. Read more: Northern leaders urge next Government to commit to infrastructure plan Learn more: Sign up to our BusinessLive newsletters here Britvic has its headquarters in Hertfordshire and factories in Rugby, London and Leeds, as well as offices in Tamworth and Solihull. Its own brands include Fruit Shoot, J2O, Robinsons and Tango, while it has exclusive licences to make and sell PepsiCo brands including 7UP, Lipton Ice Tea, Pepsi MAX, and Rockstar Energy. Britvic told shareholders: “The board remains confident in the current and future prospects of Britvic. “It recognises its fiduciary duties and will consider any further proposal on its merits. “There can be no certainty that any firm offer will be made for the company, nor as to the terms of any such offer, should one be made.” Carlsberg issued a separate statement to its investors confirming the move. The Danish company said: “Carlsberg believes that the proposal represents a compelling opportunity for Britvic shareholders to realise their investment in full in cash at an attractive valuation. “Carlsberg believes that the potential transaction would enable it to capture appealing long-term growth opportunities from Britvic’s comprehensive portfolio of leading brands in an attractive segment of the beverage market where Carlsberg already has a strong track record.”
Marston's offloads brewing arm to focus on pub business
Legendary beer maker Marston's has offloaded its brewing arm in order to focus on the pub side of the business. The Wolverhampton-based company has agreed to sell its holding of a joint venture with the UK arm of Danish giant Carlsberg. Called the Carlsberg Marston's Brewing Company, the partnership makes brands including Hobgoblin and Pedigree. Marston's said it would receive £206 million to sell Carlsberg its 40 per cent stake in the joint venture. It comes four years after the two brewers created the UK partnership in a deal valuing the operation at £780 million as Marston's sought to focus more on its pub operation. Email newsletters BusinessLive is your home for business news from across the West Midlands including Birmingham, the Black Country, Solihull, Coventry and Staffordshire. Click through here to sign up for our email newsletter and also view the broad range of other bulletins we offer including weekly sector-specific updates. We will also send out 'Breaking News' emails for any stories which must be seen right away. LinkedIn For all the latest stories, views and polls, follow our BusinessLive West Midlands LinkedIn page here. Among the venues Marston's operates in Birmingham are Lost & Found in Bennetts Hill, Bulls Head in Kings Norton and Farmer John's in Streetly along with the UK-wide Pitcher & Piano chain. Justin Platt, who became chief executive at Marston's at the start of the year, said: "This deal further strengthens our balance sheet, significantly reducing our debt by over £200 million. "Crucially, it allows us to become a pure play hospitality business and focus on what we do best - namely, giving our guests amazing pub experiences." Separately, Carlberg has agreed a £3.3 billion deal to buy Robinsons squash maker Britvic. The UK soft drinks firm, which also makes J2O and Tango, told shareholders it would recommend the latest deal. It is valued at £4.1 billion when debts are taken into account, having previously rejected a £3.1 billion offer.
Endless-owned meat firms Smithfield Murray and YPM join forces as Karnova to plan further acquisitions
A meat supplier formed by private equity house Endless LLP from companies in Yorkshire and Manchester has rebranded as it plans for growth. Endless bought Yorkshire Premier Meat (YPM) in 2022 and acquired Manchester’s Smithfield Murray a year later with the ai, of creating “a major UK force in business-to-business protein supply”. Now the firms have been formally joined forces as the renamed Karnova Food Group to supply prepared poultry and red meat to retail and food service manufacturers Endless says the name Karnova “has been developed from the Latin words for ‘meat’ and ‘newness’ to demonstrate a fresh and innovative protein company”. The group has revenues of more than £120m, employing some 150 at YPM in South Kirkby, Yorkshire, and 100 at Smithfield Murray in Trafford Park. The two existing brands will be retained. Paul Peachey, CEO of Karnova said: “The bringing together of YPM and Smithfield Murray under one group name, Karnova, is another exciting and important step in the organisation’s ambitious growth plans, which will see further organic growth - investing more in our sites, our people, our processes and new technologies - together with further acquisitions.”
North West manufacturers upbeat as automotive and aerospace sectors ramp up production
Manufacturers in the North West are more upbeat about their prospects in the second half of the year as the automotive and aerospace sectors continue to ramp up production. The Q2 Manufacturing Outlook survey published by Make UK shows output and orders have picked up substantially compared to the first quarter and are set to strengthen in the next three months, in line with the national picture. The sector is set to outpace the UK economy as a whole in 2024. The North West is set to see increased production in the automotive and aerospace sectors, while the pharmaceuticals sector also continues to perform well. Make UK said: “This better picture is translating into increased recruitment intentions with job prospects especially strong compared to historical levels.” GENERAL ELECTION: Take our BusinessLive North West election survey READ MORE: Why North West is at the heart of the UK's electric vehicle transformation Business confidence has also risen, to match the highest level recorded since the survey started polling it in 2014. The only other time it reached the same level was during the immediate post-Covid rebound. Manufacturers were also asked for their top three priorities for the next government. More than two thirds (69.1%) said an industrial strategy was the top priority, with another 54.2% calling for stronger EU/UK relations and another 44% asking for the business tax burden to be reduced. Other priorities included investment in national infrastructure (31.5%) and reforming the Apprentice Levy (24.1%). Make UK is forecasting that manufacturing will grow by 1.2% in 2024, but that growth will slow to 0.8% in 2025. It expects GDP to grow by 0.9% in 2024 and 2% in 2025. Dawn Huntrod, region director for the North at Make UK, said: “After the economic and political shocks of the last few years there is now strong confidence among manufacturers in North West. At long last, companies can see concrete signs of growth and a much better economic outlook ahead. With prices cooling and, potential cuts in interest rates to come, the next Government must capitalise on this scenario by delivering a modern, long term industrial strategy which goes beyond the 2030s and has cross-Government support.”
County Durham's Cook Defence Systems sees rising revenues and profits
A North East defence specialist has seen a 30% increase in turnover, triggered by global geopolitical instability increasing demand for armoured vehicles. Cook Defence Systems, in Stanhope, County Durham, is a world-leading designer and manufacturer of track systems for armoured vehicles and a strategic supplier to the Ministry of Defence, as the only British manufacturer of tracks for the Army’s tanks and armoured vehicles. The wider sixth-generation family firm William Cook Group, which has its headquarters in Sheffield, produces components for the rail, defence and energy sectors and its site in Stanhope, County Durham, is the main site for its defence operations, as the home for its businesses Cook Defence Systems, William Cook Stanhope and William Cook Intermodal. For the year to July 1 2023. Cook Defence Systems saw turnover jump 30% from £23.6m to £30.8m, while operating profit and pre-tax profit almost doubled from £1.17m to £2.25m. Total comprehensive income for the period was £1.84m, more than the double the £830,938 posted a year earlier. Company secretary Michael Hodgson highlighted how the company had seen demand for its products jump on the back of the Ukraine conflict. In the accounts report he said: “During the period under review, the nature of the company’s business activities has continued to be the design, sale and distribution of track systems and associated items for armoured vehicles. Whilst the global trading environment remains generally difficult, particularly in terms of energy markets, the Ukraine conflict has provided great impetus to our defence business and thanks to our significant investment programme over several past years, the company and the group are well equipped to meet this additional demand. “The outbreak of conflict in the Ukraine in the early part of 2022 created unprecedented issues across many areas of the global economy, not least in the energy markets. The directors have continued to deploy a prudent hedging policy that has offered some protection against the volatile and increasing market prices. “In addition, our long-standing relationships with strategic partners in our supply chain have continued to serve the company and the group well in terms of security of supply and transparency around cost base increases across the goods and services we procure. “The company’s position as the world’s leading independent designer and supplier of track systems for armoured vehicles positions it well to take advantage of this increased demand. The company continues to invest in the development of new products for an ever-wider range of customers.” Earlier this year it was revealed how Cook Defence Systems had gone back to the history books as it tapped into its expertise to supply spares for up to 500 Ukrainian armoured vehicles. The tank track designer and manufacturer was awarded multiple contracts on behalf of the UK and the UK-administered International Fund for Ukraine (IFU), Defence Equipment & Support (DE&S) and part of the deal saw it reverse-engineer Soviet-era equipment for vehicles used by a large part of the Ukrainian Army.
AIM-listed manufacturer sees profits dive as demand reduces
A South West optical components manufacturer has blamed a reduction in demand for a slump in profits. AIM-listed Gooch and Housego (G&H) reported adjusted profit before tax of £2.6m for the six months to March 31, 2024 - down from £4.7m the year previously. The business, which has UK offices in Ilminster in Somerset, Torquay in Devon, Denbighshire in Wales, and Plympton in Plymouth, also saw revenue fall to £63.6m from £64.5m in the first half of 2023. However, G&H said its order book "remained strong” at £115.8m - up from £115.3m in September 2023 - and was continuing to grow. It said this would “substantially" de-risk revenue in the second half. Charlie Peppiatt, chief executive officer of Gooch & Housego, said: "Despite the reduced demand in our industrial and medical laser markets persisting longer than expected, the medium term outlook remains positive underpinned by a strong order book and healthy pipeline with the group well positioned to benefit from increased demand levels as a result of operational and supply chain improvements. "The market dynamics for G&H's technologies and capabilities remains strong in all our target sectors supported by the focused progress the group has made to establish the foundations to accelerate the delivery of our strategy.” Like this story? Why not sign up to get the latest South West business news straight to your inbox. The group announced an interim dividend of 4.9p per share - marginally up on the 4.8p issued in the first half of 2023.
Concrete Canvas lands its biggest ever US export orders
A South Wales manufacturer has secured its biggest US export deal to date worth over £1.1m. Pontyclun-based Concrete Canvas, which manufactures innovative flexible concrete fabric, signed the milestone deal as part of its wider expansion in the US, which includes lining canal networks across the West Coast. The company is eyeing significant further expansion in the US as a route to export growth, having partnered with more than 12 new distributors in the country in the last 12 months. The deals will provide it with access to hundreds of new clients and Concrete Canvas expects its sales in the US to triple by 2026 as a direct result, accounting for 30% of its overall exports. Read More: Latest equity deals in Wales Read More: Trade sale dominate Welsh exit deals Founded in 2005 the firm’s innovative concrete fabric sets to form a thin, durable and waterproof layer. The product is used in construction and provides over seven times greater abrasion resistance than traditional poured concrete, as well as lower carbon emissions and a faster installation time. Exports currently account for over 85% of the company’s trade, with its products sold in over 100 countries across Australia, North America, Europe and South East Asia. In recent years, it has set up six international offices off the back of its export success including in Kuala Lumpur, Dubai, Milan, Budapest, Houston and Sydney, with clients including Mott Macdonald, Jacobs, Aecom and Atkins. Concrete Canvass, which employs 70 full time staff, is now set to further grow its global presence by working with a range of international irrigation ministries following the launch of its new product, CCX, which has been designed to line canal infrastructure to prevent erosion and reduce water seepage loss. As it stands, approximately 30% of the world’s irrigated water transported via canals is estimated to be lost due to canal leakage – something Concrete Canvas hopes to change. Will Crawford, director at Concrete Canvas said: “Our exporting journey is going from strength to strength across many different markets. Not only are we seeing ongoing expansion in the US, with our biggest deal to date breaking ground this month to install our innovative CCX product, but we are also seeing growth in central Asia and Europe, in regions where water scarcity is prevalent.” Concrete Canvas said its export success has been supported by its regular presence at international trade shows and trade missions, supported by the Welsh Government. Looking ahead, the company hopes to target more business in North America, India and central Asia, which it sees as key growth markets. Mr Crawford added: “A huge part of our success has been meeting prospective partners and clients in international markets. Entry into new international markets can sometimes present challenges, especially when it comes to educating the market on the new, innovative materials that we produce. Having people on the ground, combined with the right support at home, has been invaluable to us in gaining entry and, ultimately trust, in new territories.”
William Cook Group chalks up rising revenues and profits amid growth in all markets
North steel specialist William Cook Group has seen revenues and profits rise after seeing demand rise in all of its main markets. The sixth-generation family firm, which has its headquarters in Sheffield, produces components for the rail, defence and energy sectors. Its site in Stanhope, County Durham, is the main site for its defence operations, as the home for its businesses Cook Defence Systems, William Cook Stanhope and William Cook Intermodal. Accounts for William Cook Holdings Ltd, representing the group of companies, showed group turnover rose 28.4% from £52.4m to £67.3m for the year ended July 2023. A breakdown in turnover showed increases in all of its geographical markets, with £40.8m coming from UK customers, £17.35m from continental Europe, £3.9m from North America and £5.17m from the rest of the world. Operating profit rose from £4.7m to £8.5m, while pre-tax profit increased from £5m to £8.5m. Profit for the financial period was £6.2m, up from £4.4m. Overheads, excluding exceptional items, were £9.47m, up from £8.5mm which it said in part reflected the acquisition of Chesterfield Metal Technologies in April 2023. Following the year end in April of this year the company also acquired Crowle Wharf Engineers Limited, a rail engineering company based in Scunthorpe, at a cost of £1m. During the year, employee numbers rose from 456 to 486. Group chairman Sir Andrew Cook highlighted how the company’s defence division aided the firm’s improved results. In the accounts report he said: “I am pleased to report improved results for the period ending 1 July 2023. Sales and profits increased in all our main market sectors, with defence particularly benefitting from the Ukraine conflict and NATO rearmament programme. In the rail sector, further new-build contracts in eastern Europe provided significant new business, supplemented by additional UK refurbishment work, and in the high integrity industrial division business levels and operational performance both improved significantly. “These improvements, supplemented by robust results from the Chesterfield acquisition of April 2023, have continued into the current year, which I am confident will reveal further increases in sales and profits. “Focus on investment has shifted from the largely complete defence and rail programmes to our industrial sector, where the new £2m radiography centre was opened in March 2024 to be followed soon by the installation of new production machinery at both the Sheffield and Ashton plants.
Founder of North Somerset plastics firm retires at 59 after selling off business
The founder of a plastics fabrication business which started life in a barn near Bristol Airport more than 30 years ago has retired after selling the company to new owners. Colin Vye established Marcol Fabrications (Plastics) with business partner Mark Godfrey in 1990, helped by a loan of just £9,000, in a farm building on Row of Ashes Lane in Redhill. The company, now based in Nailsea, North Somerset, has a 14-strong workforce and was turning over more than £1.5m when sold to Safety Critical Plastic Solutions Group for an undisclosed sum. Mr Vye, who lives in Portishead, retired aged just 59 following advice from accountant Tim Bowden at Bristol SME specialists Haines Watts. “It’s the last leg of an amazing journey in business,” said Mr Vye. “When Mark and I started we were like a lot of entrepreneurs – great at what we could do but winging it a bit on the business strategy and doing whatever we needed to do to survive. “We didn’t want our clients seeing our premises so we’d drive up to places like Yorkshire for meetings, pretending we were in the area anyway. We did lots of overtime, sacrificed a great deal but never let go of our belief and our passion. We’ve been supported by some great advice along the way and I’m proud of what we’ve achieved.” Mr Vye has said he is now planning to spend more time at home, in the gym and travelling. “We’re delighted to have helped Colin exit the company he founded and to have reached a satisfactory conclusion to his business career," added Mr Bowden.
Robotics pioneer Wootzano to swap County Durham for Tyneside in new HQ move
Robotics innovator Wootzano will move from its County Durham home to a new base on Tyneside to accommodate growth. The boss of the firm, which has pioneered the development of ultra-dexterous fresh food packing robots, told BusinessLive the business will shift operations to Cobalt Business Park in the coming weeks amid continuing work to win overseas business. It marks a departure from Wootzano's NETPark base in Sedgefield, from where it has quickly built an international reputation for developing systems that boost productivity and solve labour shortages in the food production sector. The technology business will soon occupy 14,000 sqft of the Cobalt 9B building formerly occupied by engineering giant Siemens. Atif Syed, the scientist founder of Wootzano, said the firm had outgrown its Sedgefield premises, where it does some assembly of its Avarai robots. Read more: Nissan road tests self driving technology with eyes on 2027 for market launch Read more: Pharmaceutical manufacturer Pharmaron's Cramlington base set for investment despite losses Wootzano will initially occupy the ground floor of the four-storey property, with first refusal given to the company for expansion into the floors above. It comes on the back of a series of international deals announced by the firm - including a significant Canadian contract announced earlier this year - with more in offing. Tipped as one of the North East's most dynamic companies, Wootzano employs around 25 'core team members' but with just under 80 people overall when production and installation specialists and others are taken into account, with 40 people working out of California. Dr Syed and colleagues have developed an electronic 'skin' which gives Wootzano's robotic packing arms a high level of sensory awareness, allowing them to estimate the precise force needed to handle soft produce such as tomatoes and other fruit without bruising or otherwise damaging them. The skin is part of the Avarai robotic unit, which is said to take up about the same space as a human worker and are equal in cost per hour, but which provide much greater productivity. The technology has led to the North East firm landing a series of significant deals with distributors to global global food producers. In March it revealed a £161m agreement with Xcela Inc to provide robots into Canada. The deal means the two firms will work together over five years with the first set of products expected to arrive in Ontario this year, ready for use in the region's vine tomato growing industry. And its latest success is with a Japanese customers to produce robots that will go into businesses near Nagoya, as well as for the packing of large 'amaou' strawberries. Dr Syed has also recently travelled to India to negotiate future work. That comes in addition to a significant agreement found in 2023 to supply Avarai systems into the multibillion-dollar Californian grape growing industry.
Camera film maker Harman reveals multi-million pound investment as demand for 35mm retro tech grows
Britain’s only manufacturer of 35mm camera film is making a multi-million-pound investment in new equipment as it bids to safeguard the future of analogue film as demand for classic camera technology grows. Harman Technology is one of just two companies globally with the capacity to mass-produce film cassettes. It’s best-known for its ILFORD range of films and papers for black and white photography, and says sales of those products have grown over the past decade. Now Harman, based in Mobberley, Cheshire, is carrying out “one of the most significant film modernisation projects of the 21st century” to design and build two new converting machines - the first built since before the millennium. The equipment will allow Harman to more than double the amount of film cassettes it produces each year, and has been custom-built for the business. READ MORE: Co-op teams up with Zuber Issa’s EG On The Move to grow forecourt franchises Harman says it aims to “fast-track innovation in an industry characterised by its vintage processes and equipment”. Managing director Greg Summers said: “This type of equipment has not been commissioned by film manufacturers since the 1990s. So, the team has had to start from scratch, designing the equipment from the ground up, introducing modern standards of throughput and automation.” Harman employs 200 staff in Cheshire and ships products to more than 85 countries. It has an R&D team that it says is the biggest in the world dedicated to research into film. A March study from Cognitive Market Research showed the global film camera market value is set to reach some £303m by 2030, up from £223.2m in 2023 Harman also makes photographic chemicals, darkroom papers and associated equipment and has recently launched HARMAN Phoenix 200, its first ever colour film made entirely in the UK. Greg Summers said: “Film photography is a passion, not just a hobby, for millions of people across the world. Analogue cameras and skills have been passed down through generations, and we’re seeing new people fall in love with the format of film photography every day. However, users have limited choice and manufacturers are battling old machinery and processes, and replacement parts that just don’t exist anymore. We’re taking a huge leap to address that with this investment. “Our hub in Mobberley is going to become a centre of photographic excellence, as we aim to pioneer new ways to manufacture, produce and develop 35mm – both black and white and colour. It’s now a better time than ever to push resources into our team and build on the market’s momentum. We’re making sure that we have a wealth of young talent that is ready to take the reins from industry veterans, combining their experience with innovative processes to produce the future of film photography.” Harman’s investment was backed by an eight-figure funding package from Lloyds Bank including support for working capital, invoice finance, asset finance, export financing and capital import finance. The deal was led by relationship directors Amanda Wood and Susie Power, supported by Lloyds Bank’s Specialist Client Solutions team. Susie Power, relationship director at Lloyds Bank, said: “Harman has truly tapped into the needs and wants of its customers, making sure that film photography remains an accessible passion for them, both now and in the future. Along with reinvigorating the market with the introduction of its new experimental colour film, its dedication to the analogue film community and re-inventing age-old processes makes Harman a true leader in its field. “As Greg and the team target further expansion and innovation, we’ll remain by their side to help it invest in its people and processes. We’re so excited to be supporting a business that puts its community at the forefront and strives to sustain film photography for generations to come.”
North East manufacturers chalk up top output growth
North East manufacturers have seen one of the best recoveries in output since the pandemic and are leading all but one other English region. A new study from sector body Make UK and accountancy and business advisory firm BDO points to the region having seen the second highest increase in output of any English region in the last decade. The research shows North East output since 2013 has grown by 30%, while output in 2023 was 14% above the pre-pandemic levels recorded in 2019. The Make UK/BDO Annual Regional Manufacturing Outlook report shows three major sectors account for half of North East manufacturing production. The largest sector is the pharmaceuticals sector with almost a quarter (23.8%) of output, followed by transport sector - largely automotive - at 17.7% and then metal products at 10.7%. Read more: Headwinds easing for North East businesses though sales picture subdued Read more: Battery recycling leaders Connected Energy and Altilium join forces And last year the region accounted for 3% of the UK's total goods exports, with most going to the European Union (58%), followed by the US (14%) and Asia & Oceania (13%). Dawn Huntrod, region director for Make UK in the North said: "Industry remains critical to the growth of the economy, providing high value, high skill jobs and aiding the process of creating wealth across the UK. The new Government has made a welcome bold statement of its intent to tackle the UK’s anaemic growth at national and regional level. "It should now back this with a radical, cross government, long-term industrial strategy which has the need to tackle the UK’s skills crisis at its heart. This should be allied with the local growth strategies and priorities of each region, including infrastructure and innovation, together with other measures to ensure the UK is now fully open for business." Steve Talbot, head of manufacturing at BDO in the North East, added: "Over the last few years, manufacturers across the North East region have faced multiple external shocks and changing policy priorities. They have shown great resilience in overcoming these challenges and it’s really encouraging to see the regional growth of the sector over the last year. "There is now an exciting opportunity for the sector to work with the new government on the development of a new long-term industrial strategy. This could unlock vital investment needed in the North East to continue to bolster manufacturing output and skilled employment opportunities."
Husband and wife team acquires Black Country manufacturer
A husband and wife team has bought out a Black Country manufacturing business. Owners Cameron and Elizabeth Wakeman have taken over Midlands Wire Mesh in an undisclosed deal which has allowed previous owners David and Debbie Walters to retire. Established in 1975, Midland Wire Mesh is based in Lodgefield Road, Halesowen, and manufactures wire mesh, supplying to clients in sectors such as construction, gardening, drainage and the pet industry. As a result of the acquisition, the new owners said they hoped to create an additional three roles, diversify the in-house services they provide to include welding and invest in new machinery. Email newsletters BusinessLive is your home for business news from across the West Midlands including Birmingham, the Black Country, Solihull, Coventry and Staffordshire. Click through here to sign up for our email newsletter and also view the broad range of other bulletins we offer including weekly sector-specific updates. We will also send out 'Breaking News' emails for any stories which must be seen right away. LinkedIn For all the latest stories, views and polls, follow our BusinessLive West Midlands LinkedIn page here. Mr Wakeman has more than 14 years of sales, marketing and management experience within the metal industry while Mrs Wakeman, who also works at Guest Hospital in Dudley, will look after the company's finance and business marketing. Mr Wakeman said: "Myself and Elizabeth have always wanted to run our own business and, when the opportunity came about, we were keen to make it happen. "I have always worked in the metal industry in various roles from shop floor, operating machinery to sales and management roles so I'm looking forward to applying my skills and knowledge to Midland Wire Mesh. "Our aim is to grow the business over the next 12 months and focus on diversifying into new markets including racking, pet care, safety and architecture." The acquisition was supported by a joint £175,000 funding package from Wolverhampton-based BCRS Business Loans and Sheffield outfit UKSE. Birmingham-based brokerage Central Business Finance introduced the couple to the funders. Lynn Wyke, senior business development manager with BCRS Business Loans, added: "We are delighted to have been able to deliver the funding Cameron and Elizabeth needed to secure the purchase of Midland Wire Mesh. "As a lender that delivers funding for social and economic impact, it is great news that the funding will generate new jobs and enable the company to innovate." UKSE regional executive Mike Lowe added: "Midland Wire Mesh is a great example of a Midlands manufacturing business looking to grow through investment and innovation. "Cameron and Elizabeth were a pleasure to work with and we wish them all the success as they grow and develop the business." Central Business Finance's director Steve Harris said: "I am thrilled to have been able to assist Cameron and Elizabeth to source suitable finance.
Designer eyewear maker Inspecs expects drop in performance
Bath-based designer eyewear manufacturer Inspecs is expecting a drop in its financial performance for the first half of the year. The company, which makes sunglasses, optical frames, lenses and low-vision products, made the announcement in a trading update for the year ending December 31, 2024. Inspecs said revenue and EBITDA - a measure of a company's overall financial performance - for the first half of 2024 would be lower than the previous year and more in line with historic trading. The AIM-listed business said the "record result" for the the first half of 2023 was partly due to elevated levels of ordering as retailers sought to boost inventory post-Covid. Inspecs, which issued the statement following its annual general meeting, also announced the launch of its first in-house designed direct-to-consumer gaming eyewear range in London. The group said it would benefit from extra capacity in the new facility in Vietnam in the second half of 2024. Like this story? Why not sign up to get the latest business news straight to your inbox. "We expect momentum to improve across the group's markets and to benefit from increased distribution and ongoing operational efficiencies," Inspecs said in a statement.
UK aerospace sector adds £11bn to economy, report finds
Britain's aerospace sector has added £11bn to the economy over the last decade, new data reveals. Figures released ahead of Farnborough International Airshow next month show the value of the sector has increased 16% compared to 2013. The 2024 Aerospace Sector Outlook report by ADS - the UK trade association for aerospace, defence, security and space - highlight 104,000 direct jobs in the industry, including 6,000 apprenticeship roles. The majority of positions (88%) are based outside of London and the South East, with the median average salary in the sector now £48,700 - 39% higher than the UK average. Turnover in the UK aerospace sector was estimated to be £30.5bn in 2023, with 36% generated by military activity and 64% by civil aerospace. The figures were part of a wider report released by ADS Group which reveals the aerospace, defence, security and space sectors added £38.2bn in value to the UK economy in 2023, growth of 50% in the last 10 years. According to the trade association, figures highlight 40% growth in turnover for businesses in these sectors, reaching a combined £88.4bn last year. Aimie Stone, chief economist at ADS Group, said: "The latest figures reflect the continued buoyancy, resilience and economic resolve that our sectors continue to deliver to the UK. Despite a global pandemic stalling manufacturing productivity, an ongoing critical skills gap, and demand outstripping capacity, we are still seeing strong long-term growth indicators as we continue through 2024." Employment across aerospace, defence, security and space is up a third (29%) on 2013 figures, with 427,500 employed in the industry in 2023. Of these roles, 23,000 are apprenticeships. Kevin Craven, chief executive of ADS Group, added: "ADS sectors are at the heart of UK advanced manufacturing and innovative digital services. Our true value extends beyond our economic footprint, underpinning UK society, families and our way of life."
Nissan road tests self driving technology with eyes on 2027 for market launch
Automotive giant Nissan has started road demonstrations of its own driverless technology, with a view to selling the services within several years. The Japanese manufacturer has showcased the tech on roads around its Yokohama headquarters ahead of plans to launch the systems to the market in 2027. Pictures have been released of a Nissan Leaf model equipped with 14 cameras, 10 radars and 6 LIDAR (light detection and ranging) sensors showing it driving through busy and complex roads in the city, south of Tokyo. The latest prototype features a large, roof-mounted system which incorporates sensors that expand the car's field of vision - making detection of its surroundings more accurate. Nissan says the advances have helped it improve the systems' ability to predict behaviours of pedestrians and other road users, make judgements, as well as enhance its overall control for a smoother ride. Read more: National Grid work paves the way for Sunderland gigafactories Read more: Arriva takeover by American investment group I Squared completes Technicians at the global manufacturer say the prototype has been able to safely change lanes when merging and judge when to drive into intersections. It follows autonomous drive testing in London, where Nissan has received UK Government support. The results are the culmination of several years' work, with Nissan saying it has studied business models for 'future mobility services' since its 2017 fiscal year. It now intends to build the functionality and to begin offering the autonomous drive services, initially in Japan, by 2027. Later this year it will start trials in the Minato Mirai area in Yokohama with further plans to carry out service demonstration tests within fiscal year 2025. The plan is to gradually increase the autonomous features of the systems as it builds customer confidence. Nissan said the work is being carried out in close cooperation with the Japanese Ministry of Economy, Trade and Industry; Ministry of Land, Infrastructure, Transport and Tourism; and other central ministries. A number of other major manufacturers have been developing autonomous driving systems, including Toyota, which has invested substantially in software development and research in the US. The sector's poster child, Tesla, has worked on autopilot and self driving technologies while General Motors-owned Cruise has developed self driving systems with Honda signalling it could bring hands free, driving assist features to the US market by 2030.
Essar Energy Transition plans 'Europe’s first 100% hydrogen fuelled power plant' at Stanlow refinery
Energy giant Essar has confirmed plans for Europe’s first 100% hydrogen fuelled power plant as it bids to decarbonise its massive Stanlow refinery. Essar Energy Transition (EET) says it aims to build EET Hydrogen Power, a hydrogen-ready combined heat and power plant (CHP), by 2027. The plant will take hydrogen produced by the refinery and turn it into power and steam needed to fuel the refinery’s operations. That will help cut carbon emissions at the site, and will also allow it to supply low-carbon energy to other big industrial users in the area. EET Hydrogen Power will be developed in two phases, ultimately reaching a capacity of 125 MW of power with 6,000 tonnes per day of steam. It will help cut Stanlow’s emissions by 740,000 tonnes of carbon dioxide per annum. EET wants to cut Stanlow’s total emissions by 95% by 2030 to make it “the world’s lowest carbon refinery”. The scheme will also form part of the wider HyNet industrial cluster which aims to make the North West a world leader in green energy. EET says it is investing $3bn in energy transition initiatives in the North West through its Stanlow site and associated facilities. Tony Fountain, managing partner of Essar Energy Transition, said: “Launching EET Hydrogen Power shows the progress that Essar Energy Transition is making in delivering against its commitment to put the UK at the forefront of low carbon energy. EET Hydrogen Power helps bring this commitment to life and demonstrates our intention to globally showcase the pathway to decarbonising vital high emitting industries.” EET Hydrogen Power will become an independent vertical under EET. Its CEO Rob Wallace said: “We have bold ambitions for Stanlow to become a low carbon transition hub at the centre of the HyNet Industrial Cluster. EET Hydrogen Power will be Europe’s first 100% hydrogen-ready gas-turbine plant which will be supplied with EET Hydrogen’s low carbon hydrogen. This project will create significant benefit by contributing to regional emissions’ reductions targets.”
West Midlands gigafactory team says next Government must attract more battery investment to the UK
Backers of the West Midlands gigafactory say the next Government must take “urgent” action to bring battery investment to the UK and ensure the country has the skills and capacity it needs to develop the sector. The site at Coventry Airport, now known as Greenpower Park, has planning consent for a huge £2.5 billion electric vehicle battery factory which it is hoped will also attract firms in the supply chain. It sits within the West Midlands Investment Zone Now the Greenpower Park team and Coventry council have declared that “securing battery cell supply in the UK today is as vital as securing steel was in the 1940s and 50s”. They say the UK is falling behind countries such as US, France and Spain when it comes to attracting battery investment - and say the next Government should work to accelerate UK battery production. The UK has one operational gigafactory - Envision AESC - which is producing up to 6 GWh of battery capacity annually. But the Faraday Institution's 2022 gigafactory report suggests the UK will need 100 GWh per annum by 2030 to support the electric vehicle industry alone, and that demand could double by 2040. Meanwhile demand will also grow in other areas, including electricity storage and in marine and aviation. Greenpower Park calls the West Midlands “the electrification skills capital of the UK” and says the region “is rapidly becoming the centre of cell and battery research and development in the UK”. Richard Moore, Greenpower Park’s battery strategy specialist, said: “This is not the first time the UK has faced a resource crisis. We ramped up steel supply in the 1940s and 50s to build and replace military and civil equipment and can draw a parallel from this with battery cell demands today. And if we act now, we can still resolve the crisis. “The UK has got to get its head out of the sand if it thinks it’s going to hit its battery cell targets. The government and stakeholders have been slow to react to battery cell supply demands. If the next government doesn’t take action, there will be a major risk to the security of energy supply, which will leave the nation in a perilous state.” Cllr Jim O’Boyle, cabinet member for jobs, regeneration and climate change at Coventry City Council said, “The current Government has made some progress, but we need the next Government to go even further to accelerate the UK’s growing battery sector. From automotive to energy storage, there is an urgent need to secure global battery manufacturers along with the associated supply chain to meet the growing demand for electrification in the UK. “Electrification, across all sectors, is of strategic importance for the UK and it needs to be part of the next Government’s broader industrial strategy which will ensure that potential investors consider the UK in the future.”
Softer market sees sales dip at steel producer Severfield
Steel firm Severfield says the cancellation of a Hollywood-style film studio project in the UK contributed to a dip in sales. The Thirsk-based steelwork business lost out on a £50m order when the owners of Sunset Studios decided to pause their project in Hertfordshire last year. New results for Severfield in the year to the end of March 2024 show revenue fell 6% to £463.5m and operating profits fell 12% to £26.4m. Underlying operating profit, before joint ventures and associates, increased to £37.7m. Bosses said demand from India - where the firm operates a joint venture - was booming. JSSL, which is a a partnership between Indian JSW Ltd and the North Yorkshire firm, had a record order book at June 1 of £181m, up from £165m in November and including a mix of higher margin commercial work. Read more: Meld Energy's £250m Hull green hydrogen plant plans to go ahead Read more: Plans submitted for 300-acre industrial and manufacturing park at Goole Freeport Severfield said it had identified plenty of opportunities in the market where it is hoping to develop a new manufacturing facility. Earlier this year it acquired land in Gujarat to host the factory and is hiring to strengthen its sales and estimating teams. In the UK and Europe, an order book of £478m, down from £482m in November last year, includes a majority of work for delivery over the next year. Conditions at home and across the continent were softer, particularly across the distribution and infrastructure markets where tendering activity was said to be picking up but bringing with it pricing competition. Alan Dunsmore, chief executive officer, said: "We are delighted to be reporting another strong performance by the group, with our profits ahead of expectations. This is the result of an excellent operational performance and the success of our strategy to diversify the sectors and geographies we serve. This has enabled us to deliver enhanced returns for shareholders through our recent share buyback scheme, building on our 10 consecutive years of progressive dividends.
Government told to back North West manufacturing as it bounces back from economic crises
North West manufacturing output has grown by a quarter in the past decade and seen one of the UK's strongest post-pandemic bounces, a new report has shown. The Make UK/BDO Annual Regional Manufacturing Outlook shows that since 2013 output in the region has increased by 26%, while output in 2023 was 12% above the pre-pandemic levels recorded in 2019. Make UK says the new government now needs to back the sector with a new industrial strategy to ensure that growth can continue. READ MORE: First North West firm wins backing from £660m Northern Powerhouse Investment Fund The Make UK/BDO report showed manufacturing accounts for almost 15% of the region’s total output (13.4%), well above the national average. It accounts for 330,000 skilled jobs, amounting to almost 10% of the region’s workforce. The biggest sectors are transport - largely aerospace and automotive - followed by food & drink, and chemicals. In 2023 the North West accounted for almost 10% of the UK’s total manufacturing exports with the EU being the dominant destination (50%), followed by the USA (17%) and Asia & Oceania (17%). Dawn Huntrod, region director for Make UK in the North said: “Industry remains critical to the growth of the economy, providing high value, high skill jobs and aiding the process of creating wealth across the UK. “The new Government has made a welcome bold statement of its intent to tackle the UK’s anaemic growth at national and regional level. It should now back this with a radical, cross government, long-term industrial strategy which has the need to tackle the UK’s skills crisis at its heart. This should be allied with the local growth strategies and priorities of each region, including infrastructure and innovation, together with other measures to ensure the UK is now fully open for business.” Graham Ellis, head of manufacturing at BDO in the North West added: “The North West is the second largest region in the UK, in terms of GVA, with the manufacturing sector playing a critical role in the region’s output. “Over the last few years, manufacturers across the region have faced multiple external shocks and changing policy priorities. They have shown great resilience in overcoming these challenges. “There is now an exciting opportunity for the sector to work with the new government on the development of a new long-term industrial strategy. This could unlock vital investment needed across the North West to continue to bolster manufacturing output and skilled employment opportunities so crucial to the regional economy.”
Pharmaceutical manufacturer Pharmaron's Cramlington base set for investment despite losses
Losses have narrowed at Cramlington's Pharmaron amid a year of continued investment in the site. New results for the Chinese-owned business - formerly called Aesica - show operating losses fell from £24.4m to £13.7m in 2023 as revenues rose from £5.09m to £7.48m. Bosses said the Windmill Industrial Estate firm, which specialises in the production of active pharmaceutical ingredients, has the backing of its parent company, Beijing-based life sciences giant Pharmaron, in planned expansion. The firm has posted operating losses since 2020 when it suffered a temporary shutdown of all production owing to a "significant, unexpected incident". But that has not stopped Pharmaron, which acquired the facility in early 2022, from eyeing development of the site, which employs about 140 people. Read more: ScS boss Steve Carson to step down having steered retailer through Italian takeover Read more: North East technology entrepreneurs come together for new firm In the latest accounts, Pharmaron said it was reviewing plans to develop the Northumberland location and that it had approved £5m of investment into the 177,000 sqft factory, including its technical capabilities. The firm said it has a long term ambition to improve the flexibility of the site meaning it can accommodate shorter production runs as well as long term contracts Elsewhere in the accounts, directors pointed to a number of exceptional items that made up recent losses but which it said did not reflect underlying performance. Those included £4.3m of costs associated with Pharmaron's acquisition in 2022; a £1.2m hit created by mutual agreement with the firm's largest customer to cancel its contract and stop production, again in 2022; and in 2023, releases of an onerous contract liability totalling £100,000. During the 2023 year under review, the plant drew the majority of its revenue from the UK market (£3.1m), a change on the previous year when the UK constituted only £1.2m of revenue and the rest of the world made up £2.5m, compared with £1.5m last year. In documents attached to the accounts, Pharmaron director Stephen Lewinton said: "The long-term strategic plan for the site is to increase operational flexibility, so that both shorter production runs as well as semi-continuous and long-term production can be supported, to service a wider group of clients. This will involve reconfiguration of both operations and infrastructure over a period. The business development team will work closely with the site to maximise the potential revenue streams available.
OpenWorks Engineering seals £80,000 grant towards new Northumberland facility
Northumberland tech company OpenWorks Engineering has secured an £80,000 grant to help build a new manufacturing and research facility to support its growth plans. OpenWorks was launched in 2015 by a team of engineers who pooled their resources and expertise to launch new counter terrorism products, including equipment which captures rogue drones and brings them to earth. The Prudhoe-based company has since become a leader in the defence and security technology industry, with its SkyWall systems being used by a number of government authorities, militaries and private security organisations to provide close protection to the likes of airports, major infrastructure and even world leaders at summits. It also protected the last two US presidents on diplomatic visits and been used by the US Army for training sessions. The company currently employs 18 full time members of staff with plans to grow further. After learning about Northumberland Small Business Service (NSBS), bosses at OpenWorks registered online to learn more about the support available and how the company could benefit from the service. OpenWorks applied for the £80,000 capital grant from NSBS last November, and it has already hired three new permanent full-time members of staff. The grant has enabled OpenWorks to build a new manufacturing and research facility, with new capabilities it says “would not have been possible without the funding”. The firm has also expanded its product range with the grant, which has also delivered a boost to its development and manufacturing capabilities. A spokesman for OpenWorks said: “The team have been extremely supportive, and readily available to answer any queries we have had regarding grants or support for small businesses. It has been a brilliant experience from start to finish.” Liz Nelson, interim programme manager for the Northumberland Small Business Service Team said: “It is great to see another local project being boosted by the capital grant funding. We are excited to hear more about OpenWorks and their growth journey, it has been a privilege to work with them”. Eligible businesses can access the £2m rural Capital Grant Investment Fund which supports businesses in rural areas with clear growth plans, to access capital investment to expand their production capacity or diversify into new markets or products.
North East names Barbour and Bedmax regain Royal Warrants
Two North East firms business have received Royal Warrants of Appointment from King Charles. Waxed jacket fashion manufacturer Barbour and equine bedding firm Bedmax have been chosen for the status which allows them to display the Royal Arms, including on packaging and at their premises. A Royal Warrant of Appointment is granted as a mark of recognition to people or companies who have regularly supplied goods or services - deemed to be of a quality standard - to the Royal Household. The firms, from South Tyneside and Northumberland respectively, are among 800 Royal Warrant holders that represent a represent a broad range of industries from individual craftspeople to global multi-nationals. A document is issued to the "grantee", giving them the authority to authority to use the Royal Arms for up to five years. Read more: Tyneside chosen by British-Korean joint venture to build £923m cable factory Read more: North East betting tech firm AceOdds snapped up in £36m deal by Danish group A 'Legend' must be displayed alongside the Royal Arms, providing details of which Member of the Royal Family granted the Royal Warrant, the company name, the nature of the goods or services provided to them and the head office address of the company. Barbour previously held three Royal Warrants from HRH The Duke of Edinburgh (1974), HM The Queen (1982) and HRH The Former Prince of Wales (1987). These Royal Warrants were granted as manufacturers of waterproof and protective clothing. Meanwhile Bedmax has help Royal Warrants from the late Queen Elizabeth II since 2008, and from the former Prince of Wales since 2019. Dame Margaret Barbour, chairman of J. Barbour and Sons, said: “I am delighted and extremely proud that Barbour has been granted the Royal Warrant of Appointment by His Majesty The King. Our Warrant has been granted as manufacturers of Outerwear, Clothing, Footwear and Accessories and it is a great honour for all of our employees that our workmanship and enduring quality are acknowledged by one of the highest authorities in the land. "A Royal Warrant is recognised as a mark of quality around the world from Europe to the United States and across Asia. It drives us to never let our standards slip.” Tim Smalley, managing director of Bedmax Limited, said: "It has been a privilege for Bedmax to hold Royal Warrants from the late Queen Elizabeth II since 2008, and from the former Prince of Wales since 2019. Today, I am delighted to let you know that Bedmax Limited has been granted a Royal Warrant of Appointment to His Majesty King Charles III as Manufacturer of Horse Bedding.
Stokesley flooring firm Genesis acquired by French vinyl specialist Gerflor
Tile and flooring brand Genesis has been acquired by French group Gerflor in an undisclosed deal. The £16.1m turnover Stokesley firm, which also has offices Columbia and India, has become part of the €1.5bn turnover group which has UK operations in Cheshire. Genesis employs about 55 people and sells products in more than 70 countries, having been established in the late 1980s. Aidan Bruce, the sole shareholder of Genesis, said: “I am delighted with the way the transaction has gone. Gerflor is established in more than 100 countries and is continuously developing its activities in new markets. In acquiring Genesis, Gerflor’s directors saw an opportunity to add further depth to the Gerflor range and at the same time, expand its marketplace. Read more: Siemens Mobility makes pitch for Goole trains to decarbonise UK rail system Read more: Yorkshire business park to be extended for creative industries hub "It has been hard but rewarding work over the last 35 years. I could not have wished for a better team to have supported me throughout this time nor a better outcome for the business and staff who will all be retained by the new owners.” Group financial director at Genesis, Adam Pritchard, added: "This was a major transaction for us, and it was made much easier working with both teams whose experience of working with non-UK firms shone through. They were very professional and proactive throughout, working diligently to hit our timetable." Genesis was supported in the deal by law firm Swinburne Maddison, with corporate and commercial partner Martyn Tennant leading and supported by solicitor Jess Stevens; lead partner in relation to property matters Victoria Walton; Niamh Wilson, and managing associate Sharney Randhawa. Business advisors and accounts Armstrong Watson also provided advice. Meanwhile London-based firm, Travers Smith and financial advisory firm Eight Advisory, advised Gerflor. Mr Tennant said: "The satisfactory and timely completion of the transaction serves to demonstrate the breadth of partner-level expertise that the Swinburne Maddison team can offer clients from our Durham head office.”
Baker & Baker invests £2.9m in its cookie production line in Merseyside
A bakery giant has invested millions in its cookie factory as demand for its biscuits keeps growing. Baker & Baker has spent some £2.9m on its “American Bakery-style cookie” lines at its UK headquarters in Bromborough, Wirral, to increase capacity. Baker & Baker launched in 2021 as the successor to CSM Bakery Solutions, following the sale of the sister CSM Ingredients business. It employs more than 2,500 people across six European countries, selling across Europe and into the Middle East and North Africa. GENERAL ELECTION: Take our BusinessLive North West election survey The group has its own brands including Goldfrost and Molco, and also makes branded bakery products through exclusive licensing partnerships with Disney and Mondelēz. It supplies doughnuts, muffins, brownies, cookies and cakes to customers in the retail, food service, wholesale and artisan bakery sectors. Baker & Baker started work in January at its plant in Stadium Road, Bromborough, which employs 550 people. Inside the bakery, new machinery installed includes a wirecutter, mixer and mixing bowls and weighing hoppers. Meanwhile two bulk silos have been installed to hold sugar and flour, while eight jobs were created to manage the extra capacity on the production line. John Lindsay, CEO at Baker & Baker, said: “We have extensive capabilities in manufacturing cookies across a variety of flavours and formats, and we continue to see strong demand from customers in the UK and Europe for both our own-brand and licensed cookies. “This investment was necessary to ensure we have the requisite capacity to service customers both now and in the future, whilst maintaining the quality of product that our consumers expect.”
New chair for engineering firm Spirax-Sarco
FTSE-100 engineering firm Spirax Group has announced the appointment of a new chair. Tim Cobbold will take over from Jamie Pike, who is retiring from the Gloucestershire-based company on December 31. Mr Pike has been a non-executive director with the Cheltenham-headquartered thermal energy management and niche pumping specialist since 2014 and its chair since 2018. Mr Cobbold will join the board as a non-executive director and chair designate from September 1 and will succeed as chair of the board and nomination committee on January 1, 2025. The former chief executive of UBM will receive a pro rata standard non-executive fee of £70,000 for the period between September 1 and December 31, 2024. From January, he will receive an annual fee of £400,000 for his role as chair. Nimesh Patel, group chief executive, said: "We are grateful to Jamie for his contribution over the last decade to establish our group's strong foundations, leaving us well positioned for the future." Mr Cobbold will continue as chair of manufacturing firm TI Fluid Systems but will step down as a director of industrial flow equipment firm Rotork from December 31, Spirax Group said. "Tim's broad business experience with global industrial companies, as well as his experience as CEO of three FTSE listed businesses with a strong track record of value creation through growth and operational delivery, will benefit the further development of Spirax Group," Mr Patel added. "look forward to working with him as we continue to evolve our group." Like this story? Why not sign up to get the latest South West business news straight to your inbox. Mr Cobbold's appointment is subject to election as a director at the company's annual general meeting in May 2025.
Shield Therapeutics strikes £4.4m advance deal with investors AOP
Pharma company Shield Therapeutics says it has struck a deal with shareholder AOP to secure a $5.7m (£4.4m) cash sum that will "fortify" its balance sheet. The Newcastle-based business says the "monetisation" deal with its largest investor will also bring AOP's founder, Rudolf Widmann to its board as a non-executive director. Shield told the London Stock Exchange the sum is in exchange for right to receive the $11.4m (£8.9m) China approval milestone payment that may be paid to Shield by ASK Pharma, the firm's commercial partner in China for its Accrufer iron deficiency tablets. ASK is enrolling patients onto a study and subject to its success and approval by the Chinese regulator, Shield is in line for a milestone payment. The firm thinks that is likely to come in 2026 but if it does not, Shield will need to repay the advance plus interest. Read more: Two global media giants set to launch North East bases after Quorum Park office deal Read more: North East deals of the week: key contracts, acquisitions and investments Greg Madison, Shield CEO, said: "We are pleased to work with AOP on this milestone monetization agreement to bring in additional capital to support our growing business. We are encouraged by the recent Accrufer commercial trends in the US and will continue to be opportunistic to further support our growing business. This agreement, following our recently announced Sallyport deal, provides us with additional operational and financial flexibility. The $5.7m, along with approximately $8m cash on hand at the end of May 2024 allows us to further fortify our balance sheet and expand our working capital. "It is also a pleasure to welcome AOP's founder, Dr. Rudolf Widmann, to the Shield board of directors. I believe that Rudi's strong track record of building a successful pharmaceutical business and strategic perspective will complement Shield 's current board of directors." Dr. Widmann, founder of AOP, is said to be an experienced pharmaceutical scientist and entrepreneur who has focused on treatment of patients with rare diseases. He started AOP in 1996, first serving as the company's chief executive officer and chief therapeutics development officer and then being elected to the board of AOP Health Group.
Plastic parts manufacturer merges with 100-year-old firm
A Somerset-founded plastic parts manufacturer has merged with a 100-year-old Worcestershire moulding business. Merriott Plastics was founded in the South West and now has factories in Crewkerne and Rochester, in Kent, while Talisman’s plant is based in Malvern. The firms said the new multi-site business would deliver product development, manufacturing, logistics and technical support, particularly in the Midlands, South West and South East regions. Shaun Champion of Talisman - known as LGG Charlesworth until 2018 - and Andrew Lawrence of Merriott Plastics will jointly lead the new business. Mr Lawrence said: “We are truly delighted to announce this historic merger, bringing both these industry names together in the service of our customers and for UK manufacturing, while also honouring the legacy tradition that has brought us together.” Merriott Mouldings began operations in Merriott, Somerset, in 1938, and ICM in Rochester in 1947. Both companies are members of the British Plastics Federation. Law firm Wilkes facilitated the merger on behalf of Merriott Plastics. Rick Smyth, partner at Wilkes, said: “We are delighted to work with Merriott again. This deal showcases our commitment to developing long-lasting client relationships and our capability to deliver significant transactions.” The Wilkes corporate team working on the deal included Rick Smyth, partner; Lucy Freeman, senior associate; and Matt Workman, solicitor. The Wilkes real estate team included partner Mark Hodgson and senior associate Leighann Richards.
Sales rise 9% at British Engines as demand for engineering solutions increases
Growing demand for British Engines’ products solutions has triggered a 9% boost in revenues amid tough trading conditions, accounts show. The Newcastle engineering group, made up of eight subsidiaries spread across the region, has filed figures for 2023 showing an £11.9m rise in turnover to £141.6m, leading to operating profit of £5.7m, up from £4.4m. The group said revenue growth was driven by an increase in demand for the group’s innovative engineering solutions, and was a result of developing opportunities into new markets as well as product development initiatives. The company said cost inflation was again a challenge throughout the year, particularly with regard to energy costs and wage inflation, which impacted inflation, and said it continues to face pressure on its product margins while UK-based manufacturing struggles to compete with lower-cost economies. Read more: North East business life - award, community and charity events of the week Go here for more technology news from BusinessLive During the year the firm invested £8.9m in new equipment, and the net assets of the group as of November 3 2023 were £92.4m, up from £91.7m. A report within the accounts says: “The group remains committed to its strategy of diversifying revenue streams by investing in new product development, investing in new equipment and developing opportunities in new markets and geographical regions. The directors believe the group is well positioned in high growth sectors such as energy, data centres, defence and robotics which together with a strong order book, should drive both revenue and profit growth in 2024. Whilst the cost pressures faced by the group in FY23 are expected to persist in 2024, general cost inflation has started to fall, as have energy costs.” Despite the challenges, Alex Lamb, chairman of British Engines, said the group’s growth prospects remain positive. He said: “We remain dedicated to investing in the businesses in terms of people, processes and facilities for their long-term sustainability. Our revenue growth in 2023 is a testament to the hard work and dedication of our team in seeking out new opportunities to sustain the future of the business. We are mindful of the challenges that lie ahead. By focusing on cost control, building product margins and investing in our future, we are well-positioned to navigate these challenges and achieve sustained growth.” Employees at three British Engines’ businesses undertook industrial action recently after rejecting a pay offer. The industrial action has now been resolved after members at each business accepted the ballot. A spokesperson at the businesses said: “We offer highly competitive salaries within the sectors that the businesses operate and are committed to continuing to build a positive and productive working environment”. The group, founded in Newcastle in 1922, has eight businesses – including CMP Products, BEL Valves, BEL Engineering, Rotary Power, Michell Bearings, Stephenson Gobin, Stadium Export Services and Tyne Pressure Testing – which design, develop and manufacture products which are used across the globe.
West Country manufacturers among UK's best performing post-pandemic
Manufacturers in the West Country have seen one of the best recoveries in output since the pandemic of any English region or devolved nation, according to a new report. The region has also seen one of the highest increases in output in the last decade, the study by sector body Make UK and accountancy and business advisory firm BDO found. Since 2013, output in the West Country has increased by more than a quarter (27%), while output in 2023 was 13% above the pre-pandemic levels recorded in 2019, also one of the best in the UK. According to the Make UK/BDO Annual Regional Manufacturing Outlook, the manufacturing sector now accounts for more than 10% of the region’s total output - just above the national average. It also accounts for 243,000 jobs - almost 10% of the region’s employment overall - many of them in high-value sectors such as aerospace, marine and renewables. Three major sectors account for more than half of South West manufacturing production - the transport sector (largely aerospace) with more than a fifth (21.6%) of industrial output; the food and drink sector at 14.3%; and then electronics at 12.3%. In 2023, the South West accounted for 6% of the UK’s total goods exports with the EU being the dominant destination (44%), but one of the lowest dependencies across the UK. This is followed by the United States (20%) and Asia and Oceania (19%). Matthew Sewell, head of manufacturing at BDO in the South West, said: “There is a strong history of manufacturing in the South West. Despite the sector facing multiple external shocks and changing policy priorities in recent years, manufacturers have continued to show great resilience in overcoming these challenges."
High voltage specialist Excalon acquired by Renew Holdings in deal worth up to £26m
A specialist in high voltage power infrastructure has been acquired by engineering services group Renew Holdings in a deal worth up to £26m. Salford-based Excalon Holdings provides high voltage and extra high voltage equipment to the UK electricity sector, with services ranging from substation building and cable installation to the resurfacing and traffic management services needed to get work done. Excalon has a number of long-term frameworks with electricity Distribution Network Operators in the UK. That market is regulated by Ofgem and operates in five-year funding cycles, giving businesses in the sector the ability to plan for the medium and long terms. GENERAL ELECTION: Take our BusinessLive North West election survey READ MORE: The Manchester team setting off lightning to keep our lights on Leeds-based Renew says its Excalon acquisition will help it move into the electricity transmission and distribution market and is "consistent with the group's strategy of targeting end markets where maintenance and renewals programmes benefit from long-term, non-discretionary funding programmes." The initial £22m consideration will come from Renew's existing cash and banking facilities, with two more payments of £2m each due in 2025 and 2026 "conditional upon the vendors remaining with the businesses and specific profit targets being achieved". Renew added: "The acquisition will be immediately earnings enhancing for the group and Renew will continue to have a very strong balance sheet." Renew plc also operates in sectors including rail, highways and flood defence, while in London and the South East it offers "luxury prestigious private residential refurbishment" services. Announcing its results in May for the six months to March 31, it said revenues were up 17.2% to £552.8m while pre-tax profits were up 15.2%at £30.3m. Paul Scott, chief executive officer at Renew, said: "This acquisition broadens Renew's exposure to another critical UK infrastructure market, presenting tremendous long-term growth opportunities. It is consistent with our stated strategic objective to expand into new complimentary sectors that have high barriers to entry coupled with resilient attributes. "This is a highly regarded business with a strong track record in this specialist sector, and I am delighted to welcome the management and staff of Excalon to the Renew family." The shareholders of Excalon were advised by a team of M&A lead advisers from Grant Thornton (Usman Malik, John Whitney, Maria Barnes) with legal advisers from Ward Hadaway (Adrian Ballam, Rachael Sykes). Renew was advised by Walker Morris (legal) and PwC (financial due diligence).
Marvel-lous deal for mouthguard maker Safejawz
A Black Country sports equipment firm has struck a branding deal with huge US film and comic book brand Marvel. Aldridge-based Safejawz designs and makes mouthguards and is now selling products sporting designs depicting well known characters such as Captain America, Captain Marvel, Hulk and Spider-Man. The company was founded in 2014 by Ewan Jones and George Dyer who met at The University of Manchester and wanted to make sports mouthguards more fun and desirable. It now counts more than a million athletes and personalities as customers including England rugby player Joe Marler, Birmingham mixed martial artist Leon Edwards and YouTuber KSI. Email newsletters BusinessLive is your home for business news from across the West Midlands including Birmingham, the Black Country, Solihull, Coventry and Staffordshire. Click through here to sign up for our email newsletter and also view the broad range of other bulletins we offer including weekly sector-specific updates. We will also send out 'Breaking News' emails for any stories which must be seen right away. LinkedIn For all the latest stories, views and polls, follow our BusinessLive West Midlands LinkedIn page here. This latest tie up follows on from the company being awarded King's Award for Enterprise last month in recognition of its work to break into international markets. Mr Dyer said: "The Marvel Collection represents our brand ethos perfectly, allowing athletes of all levels to feel confident and bold, transforming a stereotypically known nuisance piece of kit into something you can wear with pride, that is both stylish and comfortable.
Renishaw chair Sir David McMurtry to step down
Sir David McMurtry, the billionaire co-founder of Gloucestershire engineering firm Renishaw, is to step down as executive chairman. In a stock market announcement on Thursday (June 13), the Wotton-under-Edge-based firm said Sir David would remain on the board as a non-executive director. The 84-year-old co-founded Renishaw more than 50 years ago with John Deer. Its first product - a touch-trigger probe - was invented by Sir David to solve a specific inspection requirement for the Olympus engines used in Concorde. Sir David, who was named in the Sunday Times Rich List for 2024, will also step down from the company's nomination committee, Renishaw said. Former University of Cardiff vice-chancellor Sir David Grant, a senior independent director who already sits on the board, will become interim executive chairman. He will also take the helm of Renishaw's nomination committee, but will step down from the audit and remuneration committees. Meanwhile, Richard McMurtry - Sir David McMurtry's son - has been appointed as a non-executive director. The company is also currently looking for an another independent non-executive director to join the board, it said. The changes are expected to be effective from July 1, subject to necessary approvals. According to Forbes, Irish-born Sir David has invented or co-invented more than 150 of the company's products. He was knighted in 2001 and stepped down as the firm's chief executive in 2018.