Latest local news-in-brief....
£1bn gigafactory plans to fuel 1,000 jobs after landmark deal
Battery company Volklec has announced plans to invest more than £1bn in developing a gigafactory in Coventry, following a strategic partnership with leading Chinese battery supplier, Far East Battery (FEB). With FEB’s support, Volklec will initially utilise the UK Battery Industrialisation Centre’s (UKBIC) existing 100MWh production line to manufacture an advanced energy cell, and later Volklec plans to deliver a full-scale 10GWh gigafactory, a £1bn investment that will create more than 1,000 highly skilled jobs by the end of the decade.
https://www.autocar.co.uk/car-news/technology/uk-battery-start-begin-cell-production-year
UK's automotive sector investing in major skills drive
Top employers in the UK automotive sector are investing in a major skills drive to grow apprenticeship numbers by almost a sixth in 2025, according to a new survey by the Society of Motor Manufacturers and Traders (SMMT), as manufacturers embark on a ‘green growth decade’. With the UK celebrating National Apprenticeship Week 2025 this month, more than 550 new apprentices already having joined the sector this academic year, with an additional 740 apprenticeships still available.
https://thebusinessmagazine.co.uk/property/uks-automotive-sector-investing-in-major-skills-drive/
Recognition for inspirational women in business
A prestigious event at London’s House of Commons last week marked the launch of a national awards campaign to celebrate some the country’s most inspirational female achievers.
https://chalmersnewspr.co.uk/ladies-first-return-to-house-of-commons-to-launch-2025-awards-and-celebrate-last-years-winners/https://chalmersnewspr.co.uk/ladies-first-return-to-house-of-commons-to-launch-2025-awards-and-celebrate-last-years-winners/
West Midlands net zero economy is worth £5.9bn - CBI report highlights the region as hotspot for green businesses
The West Midlands' net zero economy is worth £5.9bn, according to new research from the CBI, with the region attracting more net zero FDI projects than any in England outside of London during 2024. The UK’s net zero economy now generates £83.1bn in gross value added (GVA) and has grown by 10 per cent in the past year, said a report commissioned by the Energy and Climate Intelligence Unit (ECIU) with analysis provided by the independent consultancy CBI Economics and The Data City.
https://www.insidermedia.com/news/midlands/west-midlands-net-zero-economy-is-worth-5.9bn-cbi-report-highlights-the-region-as-hotspot-for-green-businesses
Aston Martin to axe 170 jobs in bid to cut costs - latest results show widening pre-tax losses
Aston Martin has confirmed that it will axe approximately 170 jobs as the luxury car giant looks to cut costs. This comes as the listed company, which said it is aiming to "transition from a high-potential business to a high-performing one" reports pre-tax losses of almost £290m for its latest financial year. The group has posted pre-tax losses of £289.1m for the year to 31 December 2024, widening from £239.8m in 2023, with adjusted EBITDA dipping from £305.9m to £271m.
https://www.insidermedia.com/news/national/aston-martin-to-axe-170-jobs-in-bid-to-cut-costs-latest-results-show-widening-pre-tax-losses
GMI completes units at MIRA Tech Park - will support automotive and cleantech industries
GMI Construction Group has completed its £16m contract at Warwickshire's MIRA Tech Park, having built two units totalling more than 70,000 sq ft tailored to meet the needs of the automotive and cleantech industries.
https://www.insidermedia.com/news/midlands/gmi-completes-units-at-mira-tech-park-will-support-automotive-and-cleantech-industries
Buyer sought for motor tech engineering business as administrators brought in
A buyer is being sought for an almost 50-strong motor technology company located in the "engineering heartland of the Midlands" following the appointment of administrators. Aeristech is a manufacturer of power-dense compressors used within hydrogen fuel cells and currently employs 45 people. It has appointed Craig Povey and Gareth Prince of Begbies Traynor as administrators.
https://www.insidermedia.com/news/midlands/motor-tech-business-falls-into-administration-key-investors-disappointed-by-the-news
Green light for Golden Triangle logistics facility - will create scores of jobs
A specialist industrial and logistics real estate company has gained planning permission for a facility of more than 100,000 sq ft in Rugby. French company BARJANE's development, to be known as Rugby 106, is strategically located within the established occupier base in Rugby, with companies including PWR Europe, GE Vernova, EDF Arabelle Solutions and Quartzelec. The site is situated at the heart of the UK 'Golden Triangle', immediately adjacent to Junction 1 of the M6 and just 3.5 miles to Junction 19 of the M1 Motorway.
https://www.insidermedia.com/news/midlands/green-light-for-golden-triangle-logistics-facility-will-create-scores-of-jobs
“Another record year” at Morgan Sindall Group as revenues pass £4.5bn
Construction and regeneration giant Morgan Sindall Group has hailed "another record year" with revenues passing the £4.5bn mark and pre-tax profits rising. The listed company with a major Midlands office presence in Rugby, generated revenues of £4.54bn in the year to 31 December 2024, up from £4.11bn in 2023. Pre-tax profits jumped from £143.9m to £171.9m over the same period.
https://www.insidermedia.com/news/national/another-record-year-at-morgan-sindall-group-as-revenues-pass-4.5bn
Extension completed at The Belfry Hotel & Resort restaurant - forms part of £80m expansion
An extension has been completed for the Ryder Grill restaurant at Warwickshire's The Belfry Hotel & Resort, home of the British Masters and four-time host to the Ryder Cup. The resort is being expanded with an investment of more than £80m. The Elliot Group has been appointed to carry out extensive refurbishments and approached Hampton Conservatories for its expertise in designing and manufacturing glazed extensions for commercial properties.
https://www.insidermedia.com/news/midlands/extension-completed-at-the-belfry-hotel-resort-restaurant-forms-part-of-80m-expansion
Rudy’s Pizza serves up fourth West Midlands location
Rudy’s Pizza Napoletana is set to open in Leamington Spa in Spring 2025, creating 35 new jobs in the process. The new location will feature a 3,638 sq ft unit with seating for around 90 people, bringing its authentic Neapolitan pizzas to the High Street.
https://www.thebusinessdesk.com/westmidlands/news/2094465-rudy%e2%80%99s-pizza-serves-up-fourth-west-midlands-location
Coleshill hotel hits the market after HS2 acquisition
A Coleshill hotel is back on the market after being acquired in a land grab for phase 1 of HS2. The freehold of the Grimstock Hotel has been put up for sale with leisure property specialists Fleurets. Grimstock Hotel has not traded since 2020 having been acquired as part of the major infrastructure project. The 44-bedroom hotel has three function areas with a restaurant and bar and lies on a site of more than two acres.
https://www.thebusinessdesk.com/westmidlands/news/2094836-coleshill-hotel-hits-the-market-after-hs2-acquisition
Kenilworth agricultural show to return this year
Coventry and Warwickshire's largest one-day agricultural show will return this year amid fresh optimism about its future after a new site for next year was secured. The Kenilworth Show, a highlight on the region’s rural calendar that regularly attracts more than 12,000 people, is back after last year’s show was unfortunately cancelled.
https://thebusinessmagazine.co.uk/companies/kenilworth-agricultural-show-to-return-this-year/
Bromwich Hardy "commands 60 per cent share of Cov & Warks commercial property market"
A major Coventry & Warwickshire commercial property annual overview was launched this month in Leamington Spa by agents Bromwich Hardy. The figures were revealed at the launch of Bromwich Hardy’s Barometer 2024 at the event in February, covering the office and industrial market across Coventry and Warwickshire. The launch at the Riverside Glasshouse in Leamington Spa was attended by more than 120 people. Nearly 60 per cent of the commercial property market in Coventry and Warwickshire was achieved by Bromwich Hardy during 2024.
https://thebusinessmagazine.co.uk/property/bromwich-hardy-says-it-commands-nearly-60-per-cent-share-of-commercial-property-market/ The Barometer can be viewed on this link: https://www.bromwichhardy.com/market-insights/bromwich-hardy-commands-nearly-60-share-of-commercial-property-market/