A round up of news-in-brief affecting businesses in Warwickshire...
Codemasters value grows to £700m as it joins Rockstar group
A takeover offer which values one of the oldest names in Britain's video game industry at more than £700m has been unanimously recommended to its shareholders. Warwickshire-headquartered Codemasters recently received the approach from Take-Two, an American NASDAQ-listed video game holding company based in New York and founded by Ryan Brant in September 1993. The company owns two major publishing labels, Rockstar Games and 2K, which operate internal game development studios. https://www.insidermedia.com/news/midlands/takeover-offer-unanimously-recommended-to-codemasters-board
CWLEP welcomes further UK Government investment in Battery Tech
As part of the 10-point plan for a Green Industrial Revolution, the Government has announced an investment of £500m for the development and mass production of electric vehicle batteries. The Plan, which sets out a range of investments in energy and green technology, identifies electric vehicles as a core plank of the Government’s strategy. https://www.cwlep.com/news/coventry-and-warwickshire-ready-electric-vehicle-revolution
Flooring e-Commerce business expands into new space to accommodate growth
Despite tough trading conditions for many in the retail sector, Nuneaton based UK Flooring Direct has seen sales of its products – including wood and laminate flooring – increase in recent years, including during the lockdown period. The company is taking additional office and warehouse space at Pro-logis Keresley, on the Bedworth/ Coventry border to accommodate ongoing growth. https://www.thebusinessdesk.com/westmidlands/news/2045919-flooring-supplier-braced-for-record-sales-during-second-lockdown
New alliance supports roll-out of 5G
BT, University of Warwick and Warwickshire County Council have announced a collaboration to bring 5G innovation and co-development to the university campus and the wider region, stimulating regional economic growth and post Covid-19 recovery. The ‘innovation alliance’ has enabled BT to switch on the UK’s first dedicated public 5G network for a connected campus, bringing ultrafast 5G mobile coverage to university students, staff and visitors across the 720-acre site and to people in surrounding areas through its EE mobile network. The commercial 5G installation is the first phase of the project between BT and the university to accelerate the co-creation of 5G led capabilities within the campus and for industries across the UK. https://www.thebusinessdesk.com/westmidlands/news/2045769-bt-and-university-of-warwick-to-accelerate-5g-innovation-for-regional-economic-recovery
Production of new van begins at Ansty
Warwickshire-headquartered LEVC has started the production of its new electric van. The VN5 model is designed, engineered and manufactured at LEVC’s plant in Ansty, Coventry. The company expects its new electric van to account for about 70 per cent of production volume by 2022. The first vehicles will be delivered to UK customers before the end of the year and a LHD variant will join production in March 2021. https://www.insidermedia.com/news/midlands/levc-starts-production-of-new-electric-van
AMSCI loan extends Aeristech range
Electric motor specialist Aeristech, based in Warwick, has secured a £2m investment loan to drive its cleantech growth plans through a Government-backed fund for high tech manufacturing businesses. The investment loan was made possible through the Advanced Manufacturing Supply Chain Initiative West Midlands and Liverpool City Region (AMSCI WMLCR), a £25m fund which is part of the wider £345m national programme that was launched in 2012. https://www.thebusinessdesk.com/westmidlands/news/2045631-2m-investment-to-supercharge-electric-motor-developer%e2%80%99s-growth-plans
Ricor puts stamp on North-East Automotive
Warwickshire -based international automotive supplier Ricor Global has acquired the assets of Arlington Automotive North East division which was placed into administration earlier this year. With manufacturing facilities in the UK, Poland and Slovakia and headquartered in Studley, Warwickshire, and with a tooling facility in China, Ricor employs more than 800 people, specialising in metal stampings and complex assemblies, primarily for the automotive industry. https://www.thebusinessdesk.com/westmidlands/news/2045603-international-automotive-supplier-swoops-for-arlington-assets
Niche autoparts-maker sets up in Southam
A Warwickshire manufacturing business specialising in the production of niche vehicle panels has purchased new premises. CKD Shop, which was established in 2015 in Queensland, Australia, has purchased the 8,000 sq ft site at Holywell Business Park in Southam. The business produces reproduction panels specifically for the Land Rover Series 1 Vehicles, as well as a growing range of spares and accessories. https://www.thebusinessdesk.com/westmidlands/news/2045506-manufacturer-snaps-up-new-premises
Nuneaton manufacturer takes further space
Unifabs, the Nuneaton-based sheet metal design and manufacturing firm is expanding its footprint after sealing a seven-figure property deal. Based at Haunchwood Industrial Estate in Galley Common, the company has purchased an additional four units of factory space – equating to 23,000 sq ft – for £1.4m – to accommodate ongoing growth. https://www.thebusinessdesk.com/westmidlands/news/2045928-manufacturer-expands-footprint-after-seven-figure-property-deal
AC Lloyd and Warwickshire County Council collaborate on green agenda
A Warwick-based property development company is supporting a project aimed at boosting wildlife levels in Warwickshire. AC Lloyd, which is headquartered at Tachbrook Park, has secured several biodiversity offsetting units from the Alscot Estate in Stratford-upon-Avon. The agreement is part of a landmark deal – called the Alscot Biodiversity Project – which is one of the first ventures of its kind in the UK and has seen the Alscot Estate obtain a licence from Warwickshire County Council to offer biodiversity offsetting units to developers. https://www.thebusinessdesk.com/westmidlands/news/2045677-warwick-developer-strikes-deal-to-support-biodiversity
Pizza chain set to open in Leamington by end of year
The arrival of one of Europe's fastest-growing pizza chains into Leamington Spa has taken a step closer - and is set to open its doors by the end of the year. Dodo Pizza – which is in 657 locations across 13 countries – has signed a 15-year lease for 1,608 square feet of ground floor space at 52-54 Warwick Street, which used to form a part of the former Co-op store. Work is currently underway to transform the building, with a view to the firm’s new base potentially offering takeaway and delivery services from December this year. Dodo Pizza’s Leamington base is also set to become its corporate headquarters for its UK operations. https://www.mycaterlyst.com/Caterlyst3/Insight/Insight.aspx?n=30309
First Pro awards go online to celebrate local talent and innovation
The leading Coventry & Warwickshire Business Professional Financial Services group CW First Pro took their annual events online for the first time, to showcase the talent and capability of the business, professional and financial services sector in our region. Among the winners this year were Bromwich Hardy for ‘Deal of the Year’ and Unit 2 Games for New/ Emerging Start-up Award. The full list of winners and a recording of the event can be seen here: https://www.coventryfirst.co.uk/firstpro/