A round up of latest news in brief...
Creative Hub plans for Leamington Town Hall
An application which aims to support the transformation of the historic Leamington Spa Town Hall into a creative hub could soon be approved. The grade II-listed Town Hall dates back to the late 19th century and is located within the Leamington Spa Conservation Area, as well as the Creative Quarter.
https://www.insidermedia.com/news/midlands/works-to-leamington-spa-town-hall-set-for-approval
Morgan and Pashley to collaborate again on new product for Stratford factory
Historic manufacturers Pashley Cycles and Morgan Motor Company are to launch a new range of bicycles this summer as part of an extended collaboration. Launching this summer, the Pashley-Morgan 3 and Pashley-Morgan 8 have evolved – and been joined by a new sibling, the Pashley-Morgan 10. Every bicycle is hand-made by a small and highly-skilled team at the Pashley factory in Stratford-upon-Avon. The Pashley-Morgan range continues to be jointly developed by the Pashley and Morgan design teams.
https://www.insidermedia.com/news/midlands/manufacturers-to-launch-new-bicycles
Aston Martin announces £80m strategic link with US EV company Lucid
Aston Martin is to link its brand of craftsmanship and in-house engineering excellence, with US EV company Lucid's advanced technologies and expertise in luxury electric vehicles, to create an unrivalled combination with the capabilities to re-define the customer experience for future Aston Martin BEV products. The supply agreement would also complement the bespoke development of a single BEV platform by Aston Martin that will be utilised across its future electrified product portfolio, and support the company's target to launch its first BEV in 2025. https://www.insidermedia.com/news/midlands/aston-martin-agrees-deal-to-drive-future-ev-led-growth?utm_source=westmidlands_newsletter&utm_campaign=westmidlands_news_tracker&utm_medium=top_story_article
Manufacturing experts from Coventry to take part in recycling wind turbine project
Experts at the Manufacturing Technology Centre are to take part in a 10 million euro EU 18 partner project to develop technologies to recycle high value parts from wind turbine blades. The four-year EoLO-HUBS project aims to recover glass and carbon fibres from large wind turbine structures that have reached the end of their useful life.
Europe is among the global leaders in wind energy technology accounting for more than 70 per cent of all wind power installed in the world. This meets nearly 14 per cent of the EU’s power demand, being the second largest form of power generation capacity in the EU.
https://thebusinessmagazine.co.uk/companies/manufacturing-experts-from-coventry-to-take-part-in-recycling-wind-turbine-project/
Engineering firm takes additional space at Tournament Fields
Employee-owned hi-tech engineering firm 3P Innovation, based in Warwick is to expand its workforce following the fit-out of its second building next door.
https://www.insidermedia.com/news/midlands/fit-out-works-complete-for-engineering-firms-second-base
German tyre firm opens Warwick office
Continental, which manufactures tyres, has taken space at the University of Warwick Science Park's Innovation Centre on the Warwick Technology Park, to be closer to the regional supply chain. The new office will be used predominantly for the company's customer facing team in the region to service major clients including Jaguar Land Rover.
https://www.insidermedia.com/news/midlands/automotive-firm-opens-warwick-office
Coventry’s City Centre Cultural Gateway passes planning
Planning permission has been granted to undergo a remarkable transformation of Coventry’s former IKEA building into a vibrant cultural hub. Now known as the City Centre Cultural Gateway (CCCG), the building will be repurposed to provide a new home for nationally recognised collections and include a space for new research facilities.
https://thebusinessmagazine.co.uk/property/planning-permission-granted-for-coventrys-city-centre-cultural-gateway/
Local investor eyes further game development investments
Henley based Mercia Investment Management will continue to "seek out and support gaming companies that demonstrate exceptional potential for growth", with the sector now accounting for more than 30 per cent of its direct investment portfolio. As at 30 September 2022, mobile and digital gaming accounted for 33 per cent of Mercia's direct investment portfolio by value.
https://www.insidermedia.com/news/midlands/mercia-eyes-further-gaming-investments
Record year for tourism to Coventry
Tourism in Coventry enjoyed a record year in 2022 as the value of the visitor economy in the city soared to more than £750m and recovered to surpass pre-pandemic levels. The visitor economy broke the previous record set in 2019 and saw growth in visitor numbers as 11.05 million people visited the city – a one million increase on 2019 and near three million on 2021. Key events including Radio 1’s Big Weekend, Coventry's City of Culture celebrations and the Birmingham 2022 Commonwealth Games have been identified as drivers for the growth – with visitor numbers peaking in May and August.
https://www.insidermedia.com/news/midlands/record-year-for-tourism-in-coventry
Blow to Manufacturing as 3M in Atherstone announce potential closure
More than 160 jobs have been put at risk at the 3M Atherstone site. The firm has confirmed that it has started redundancy consultation with 163 staff at the Ratcliffe Road-based unit. 3M Atherstone, which opened in 1964, is is 3M’s only Coated Abrasives manufacturing site in Europe. It is the main European location for Industrial and Transportation Development Laboratory and Technical service group. But, under the proposal, abrasives making and converting would move primarily to existing 3M facilities worldwide. This impacts 163 employees and all contingent workers at the site, the firm says.
https://www.coventrytelegraph.net/news/local-news/more-160-jobs-put-risk-27178943
West Midlands business confidence resilient - Lloyds Bank
Business confidence in the West Midlands fell one point during May to 30 per cent, according to the latest Business Barometer from Lloyds Bank Commercial Banking. Companies in the region reported higher confidence in their own business prospects month-on-month, up five points at 37 per cent. When taken alongside their optimism in the economy, down eight points to 22 per cent, this gives a headline confidence reading of 30 per cent. Overall UK business confidence dropped five points to 28 per cent in May. Despite the dip, every UK nation and region report a positive confidence reading.
The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.
https://thebusinessmagazine.co.uk/companies/west-midlands-business-confidence-resilient-lloyds-bank/