A round up of latest news-in-brief affecting the county...
Former WWII camouflage workshop transformed into creative offices
The transformation of the former WWII camouflage workshop in Leamington's Spencer Yard has been completed with all the units now fully let. The scheme forms part of the continued progress of the Creative Quarter. The building, now known as 1 Spencer Yard, has been restored to provide creative offices by Complex Development Projects (CDP) in partnership with Warwick District Council. 1 Spencer Yard is the new home of EDAG Engineering, LoudLocal, PO'Sh Creative and Lily Head Dental Practice Sales and Finance with about 50 people now working within the building.
https://www.insidermedia.com/news/midlands/former-ww2-camouflage-workshop-transformed-into-creative-offices
Green light for 220,000 sq ft North Warwickshire commercial scheme
Urban regeneration company Summix has secured the green light for the creation of about 220,000 sq ft of commercial space in Warwickshire. The development, on brownfield derelict land at Tamworth Road, near Tamworth, will create a significant number of jobs through a range of new buildings that will offer research, commercial and industrial uses.
https://www.insidermedia.com/news/midlands/green-light-for-220000-sq-ft-warwickshire-commercial-scheme
900 jobs at risk as HelloFresh proposes closure of Nuneaton distribution centre
Recipe box company HelloFresh is proposing the closure of its Nuneaton distribution centre in a move that places about 900 jobs at risk. The proposal, which is subject to consultation, is for the site to remain operational until at least mid-2025. The company said that "consolidating our operations and leveraging more of the technologically advanced parts of our network will enable us to offer the best product to our customers while reducing emissions and waste".
https://www.insidermedia.com/news/national/revealed-the-16-best-pubs-in-the-uk-in-2024
Warwick poised for £20m logistics unit after green light for Barberry
A £20 million logistics unit is set to be built at the Tournament Fields Business Park in Warwick after developer and investor Barberry was given the go-ahead by the district council. Barberry acquired the last remaining plot at the park, which sits off Junction 15 on the M40 earlier this year, and has now secured reserved matters planning permission from Warwick District Council for the 92,246 sq ft project.
https://thebusinessmagazine.co.uk/companies/warwick-poised-for-20m-logistics-unit-after-green-light-for-barberry/
Lotus to cut up to 200 jobs in the UK
Sportscar manufacturer Lotus has confirmed it is cutting jobs for the third time in 18 months, with up to 200 UK-based roles at risk. The company, which is based at Hethel near Norwich, said the redundancies were the result of "market demand and evolving market conditions". Owned by Chinese firm Geely, Lotus made significant cuts to jobs in July 2023 and January this year, with accounts in 2023 showing car sales had dropped by almost 200% in one year and losses had risen to £145.1m. The company employs engineers at its facility in Wellesbourne and also in Coventry, but it is understood that the majority of the latest job losses will be at the Norfolk factory.
https://www.itv.com/news/anglia/2024-11-08/up-to-200-uk-jobs-at-risk-as-sportscar-firm-reveals-redundancy-plan
Dumper truck manufacturer eyeing growth with factory expansion
Leamington dumper truck firm Thwaites expects to see a 15% increase in its manufacturing capacity over coming years, once it completes work to expand its site in Cubbington. The family-owned business is being supported in the work, earmarked for completion in summer 2025, with a funding package from HSBC. The transformation of the site will include constructing a new 43,000 sq ft building, and solar panels will also be installed and provide a third of the electricity used by the site.
https://thebusinessmagazine.co.uk/companies/dumper-truck-manufacturer-eyeing-growth-with-factory-expansion/
Recruitment giant seeks further acquisitions as revenues near £2bn
A Warwickshire-headquartered recruitment giant said it is seeking further growth through acquisitions after an extended financial year in which revenues neared the £2bn mark but pre-tax profits dipped. Pertemps Network Group, which was established in 1961, is a workforce talent provider with more than 200 branches across the UK.
https://www.insidermedia.com/news/midlands/recruitment-giant-seeks-further-acquisitions-as-revenues-near-2bn
Business Secretary to confirm Government will consult on easing EV rules
Business Secretary Jonathan Reynolds is set to confirm the Government will consult on easing rules related to the phasing-out of new petrol and diesel cars, the PA news agency understands. The Cabinet minister is expected to use a speech to the automotive industry on Tuesday night to announce that changes to flexibilities available to manufacturers as part of the zero-emission vehicles (Zev) mandate will be proposed. Under the current rules, the mandate will reach 80% by 2030, but the Government has committed to bring the ban on the sale of new petrol and diesel cars and vans forward from 2035 to 2030.
https://www.insidermedia.com/news/national/business-secretary-to-confirm-government-will-consult-on-easing-ev-rules
Jaguar’s rebrand backlash - the reason behind it and the “end of the classic British design”
The British luxury vehicle company Jaguar unveiled a new logo as part of a rebrand, as the car giant pushes forward to an electric-only future. The rebrand has been met with widespread confusion and criticism, with Tesla-owner Elon Musk even joining in on the online backlash following the carmaker's latest advertisement.
https://www.insidermedia.com/news/national/jaguars-rebrand-backlash-the-reason-behind-it-and-the-end-of-the-classic-british-design
John Brown Wheels to roll back to Warwick home after 40 years
John Brown Wheels is moving back to Wedgnock Lane in Warwick after being away for more than four decades.Founded in Coventry in 1972, the firm designs replicas of alloy wheels for a range of vehicles.
https://thebusinessmagazine.co.uk/companies/wheel-supplier-to-roll-back-to-warwick-home-after-four-decades/
Wrightbus snaps up refurbishment and repair company
JCB linked bus businesss Wrightbus, based in Northern Ireland, has expanded with the acquisition of a company which specialises in bus and coach refurbishment and repair. RGI Bus and Coach Refurbishment operates from premises in Southam. The deal secures the facility as well as the company's 13 members of staff. RGI owner Ross Cleaver joins Wrightbus as head of repair and refurbishment UK.
https://www.insidermedia.com/news/national/wrightbus-snaps-up-refurbishment-and-repair-company
Fine-dining restaurant opens at newly restored Georgian manor
A new fine-dining restaurant has launched within Warwickshire's Ansty Hall, a recently restored grade II-listed Georgian manor. Twine draws its name from Ansty's history as a hub of the weaving industry and aims to "redefine" classic British cuisine.
https://www.insidermedia.com/news/midlands/fine-dining-restaurant-opens-at-newly-restored-georgian-manor
Medtech firm chooses Warwick for UK testing and repair site
An Italian-headquartered multi-national, which makes products for diagnostic imaging, has chosen Warwick for its UK site for testing and repairs after moving the service in-house. The UK arm of Bracco, based in Oxford, had a strong sales presence in this country with products used in both NHS and private hospitals, but it used to rely on third parties to repair defective equipment and to test new products.
https://thebusinessmagazine.co.uk/companies/medtech-firm-chooses-warwick-for-uk-testing-and-repair-site/
Warwickshire engineering company celebrates a century in business
Kigass, which manufacturers components for a range of industries from automotive and aerospace to the oil and gas sectors, is celebrating 100 years in business. Since its inception in 1924 the fourth-generation family business Kigass in Warwick has consistently evolved its offering to meet new technology and demand.
https://thebusinessmagazine.co.uk/companies/warwickshire-engineering-company-celebrates-100-year-in-business/
Construction firm Stepnell reports strong year and looks ahead to demerger
Construction company Stepnell has reported profits of in excess of £1m following an "improved performance across a range of key indicators", with turnover rising by more than 15 per cent. The business, which operates regionally from offices in Nottingham, Rugby, Wantage, Bristol, Southampton and Poole, attributes the strong 2023/24 financial year to a continued focus on overall business strategy and operational performance.
https://www.insidermedia.com/news/national/construction-firm-stepnell-reports-strong-year-and-looks-ahead-to-demerger
HS2 reaches halfway point on Warwickshire ‘green tunnel’ - new images showcase progress
Work to build HS2's 700-metre-long Burton Green Tunnel in Warwickshire has reached the halfway mark, with new images highlighting the progress. Once built, the tunnel will carry HS2 trains through the village of Burton Green, near Kenilworth, and will feature a green space above for use by the community. It is one of five 'green tunnels' being built on the project – shallower tunnels which will be finished with trees, plants and shrubs on top.
https://www.insidermedia.com/news/midlands/hs2-reaches-halfway-point-on-warwickshire-green-tunnel-new-images-showcase-progress
Green light for Nuneaton industrial and logistics warehouse - will create almost 250 jobs
A Detailed plans for a £3.5m mid-box industrial and logistics warehouse at Nuneaton business park have received the green light. The project is forecast to create almost 250 jobs. Tungsten Properties' plans for a facility at Bermuda Park have been approved by Nuneaton and Bedworth Borough Council. The company will speculatively develop Nuneaton 37, which will total 36,730 sq ft, targeting BREEAM Very Good and EPC A. The project is forecast to create about 150 construction roles and, once the building has been completed, create a further 95 jobs.
https://www.insidermedia.com/news/midlands/green-light-for-nuneaton-industrial-and-logistics-warehouse-will-create-almost-250-jobs
Detailed plans lodged for Exhall Golden Triangle employment space
Detailed plans have been lodged for the creation of approximately 600,000 sq ft of employment space in the Midlands' Golden Triangle. Following a planning appeal last year, L&Q Estates secured outline planning permission for more than 600,000 sq ft of commercial development on land off Wilsons Lane/A444 in Longford.
https://www.insidermedia.com/news/midlands/detailed-plans-lodged-for-golden-triangle-employment-space