This month's round-up of news-in-brief from the county and region...
Semi-conductor Shortages Continue to Impact Jaguar Land Rover
Automotive giant Jaguar Land Rover is reportedly reducing output temporarily at its Lode Lane site in Solihull in response to ongoing global semiconductor supply chain disruption. The move will mean reduced production between January and March, with JLR set to focus on its more profitable models.
Major Indian Automotive Firm Buys Leamington’s Drive Systems Design
Leamington Spa based engineering consultancy Drive System Design has been sold to Hinduja Tech (HT), a world-class engineering company. Drive System Design is known for developing innovative solutions for electrified propulsion systems and currently provides advanced engineering to automotive, commercial vehicle, off-highway, defence and aviation industries. Hinduja Group also owns Ashok Leyland, whose bus business Switch has a tech centre in Leamington.
Henley’s Mercia Pays £9.5m for Regional SME Lender FDC
Warwickshire-based Mercia Asset Management PLC, has bought SME lender Frontier Development Capital Limited based in Birmingham, paying £9.5 million plus net cash. The acquisition adds around £415 million of funds under management.
Atherstone Aerospace Business Adds Solar Panels with Bank Funding
North Warwickshire manufacturer of precision-engineered aerospace components ANT Industries is reducing its emissions and energy usage with the installation of 13,000 sq ft of solar panels, supported by funding from Lloyds Bank.
Frasers Group to Spend £600m on New Campus in Rugby Borough
Frasers Group is pledging to spend £600m creating its new campus near Coventry, outside Ansty Village at J2 M6. The announcement came less than a month after the retail giant bought Coventry Building Society Arena – the former 32,600-seat home of Wasps Rugby Club – out of administration for a reported £17 million.
New Co-working Space Lands in Rugby Houlton
The Exchange is a co-working space that provides Houlton residents, local entrepreneurs, students and professionals with more flexibility to work in a safe, comfortable environment.
Creative community hub to open in Leamington Spa
A new shared workspace known as The Fold will open in Leamington Spa next summer. The former URC Church building is 14,000 sq ft and Grade II listed.Developed by Cogent, iIt will be a hub for the creative community, where copywriters, designers, developers, and content creators can connect through a membership.
MTC Working on Diesel-free Construction Sites
Engineers from the Manufacturing Technology Centre are working with four major transport organisations on a project aimed at removing diesel from construction sites.
Warwickshire Tourism Chief Calls on Government to Create New Department
Helen Peters, chief executive at Shakespeare’s England, is urging the government to launch a department that is dedicated to tourism to help address challenges.
WM Mayor Confident on Investment from India
Andy Street, who last month led a trade mission to India, says the country has now become the second biggest inward investor in the region, close behind the US. As well as TATA, Hinduja, Mahindra and TVS Group are among those investing in the Coventry & Warwickshire area.