January 2021


Latest business News-in-Brief around Warwickshire...

600 jobs on the way to North Warwickshire

Global logistics solutions and supply chain management company DB Schenker is set to create 100 jobs with plans to expand its current premises at Centurion Park on the Dordon/ Tamworth border, taking a seven-year lease on a 153,064sqft unit. Meanwhile, on the other side of the M42 at J10, an as yet unnamed investor will create 500 jobs at St Modwen Park, taking on TF321, the newly built 321,000sqft unit speculatively completed last year. https://www.thebusinessdesk.com/westmidlands/news/2048103-global-logistics-company-to-create-100-jobs-in-site-expansion?utm_source=newsletter&utm_medium=email&utm_campaign=WestMidlands_26th_Jan_2021_Daily

West Midlands tech sector grows during pandemic

Tech startups and scaleups in the West Midlands raised a record £390m in funding in 2020, almost three times more than 2019’s previous record of £132m. Across the region, tech companies are showing positive signs of recovery from the coronavirus pandemic. Overall, there are 5,099 open tech roles in the West Midlands, at companies including BT, Premier IT, Balfour Beatty and Aldi. https://www.thebusinessdesk.com/westmidlands/news/2048137-investment-into-west-midlands-tech-sector-triples-in-2020

Start-up growth during pandemic

The Coventry and Warwickshire Chamber of Commerce’s start-up team helped more than 300 new businesses since April 2020 and is expecting another influx as 2021 begins. New businesses started during the pandemic included everything from an interiors business through to a company delivering nature boxes for children. Many were started because of either redundancy or uncertainty around employment due to Covid-19. https://www.cwlep.com/news/covid-crisis-led-jump-start-businesses-more-come

JP Morgan Chase increases stake in Codemasters

Interest in Southam-based Codemasters continues with JP Morgan Chase further increasing its investment in the business, one of the oldest names in Britain's video game industry. It is currently a target of a takeover attempt from Electronics Arts (EA) which submitted a bid valuing the listed company at £945m. The firm now has a 8.12 per cent stake in Codemasters, up from 7.51 per cent. https://www.insidermedia.com/news/midlands/jp-morgan-further-ups-codemasters-stake

Growing interest in engineering careers

MTC Apprenticeships, part of the Ansty-based Manufacturing Technology Centre (MTC), has seen a surge in applications from prospective apprentices, with more than 700 young people looking to join the award-winning programme. https://www.businessinnovationmag.co.uk/manufacturing-technology-apprenticeship-applications-hit-record-high/

Automotive firm brought out of administration

A deal has been struck to secure a multi-million-pound acquisition and working capital funding package for Evtec Automotive from BREAL Zeta Commercial Finance, saving 110 jobs and creating 50 new ones. Headquartered in Coventry, Evtec Automotive, formerly known as Arlington Engineered Systems and part of the Arlington Automotive group (in administration), specialises in manual assembly for the automotive sector. https://www.thebusinessdesk.com/westmidlands/news/2047790-110-jobs-saved-after-multimillion-pound-rescue-deal

Warwick Medtech firm secures investment

A Warwickshire-based manufacturer of fertility monitoring products has secured a £250,000 boost. Fertility Focus has received the loan from the Midlands Engine Investment Fund (MEIF) through a £250,000 loan enabling it to invest in its staff, continue research and development, while safeguarding against the impact of Covid-19. https://www.insidermedia.com/news/midlands/fertility-monitoring-products-maker-secures-250k-boost

Medtech business acquires Nuneaton’s Intaforensics

An Oxfordshire-based company which provides forensic science services to the criminal justice system has acquired a Warwickshire business. Forensic Access has snapped up IntaForensics for an undisclosed sum. https://www.insidermedia.com/news/midlands/forensic-science-company-makes-acquisition

Aldi reports best ever Christmas trading results

Atherstone-based discount supermarket giant Aldi has posted its best ever Christmas sales, driven by strong growth in its online wine and special buy products. The company confirmed that, in the four weeks to 24 December, sales rose by 10.6 per cent compared with the same trading period a year ago. https://www.insidermedia.com/news/midlands/record-christmas-sales-for-aldi

High Street retail hit by Debenhams and Arcadia closures

Debenhams stores are set to close after the failure of last-ditch efforts to rescue the ailing store chain. It means all 12,000 employees are likely to lose their jobs when the chain's 124 shops cease trading. This includes the Nuneaton, Rugby and Coventry branches. The online fashion retailer Asos is, meanwhile, in exclusive talks to buy Topshop, Topman, Miss Selfridge and the athleisure label HIIT from Arcadia, Sir Phillip Green’s former retail empire, which collapsed into administration last year and employs 13,000 people. https://www.theguardian.com/business/2021/jan/25/debenhams-deal-and-topshop-talks-put-more-than-20000-jobs-at-risk

New industrial units in Exhall

The Red Kangaroo Trampoline Park is set to re-open this year after the company signed a 15-year lease on a purpose-built unit on the same site as its previous home that was destroyed by fire in 2018. An additional new light industrial space has been created next door known as Exhall 3. https://www.thebusinessdesk.com/westmidlands/news/2048068-trampoline-operator-jumps-into-new-premises


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