Latest local news-in-brief...
China’s Geely takes major stake in Aston Martin Lagonda
Chinese carmaker Geely has taken a stake of almost eight per cent in Gaydon-based luxury car manufacturer Aston Martin. The company – which already owns marques including Volvo, Lotus, and taxi cab manufacturer London EV Company – was one of the new investors in Aston Martin’s £654 million equity capital raise on Friday (September 30).
Geely lost out to Laurence Stroll’s Racing Point in a takeover of the business in 2020.
https://www.businessinnovationmag.co.uk/chinese-carmaker-geely-takes-eight-per-cent-stake-in-aston-martin/
Exhall Defence and Aero Giant appoints new CEO
Nasmyth Group has appointed Tony Upton as its new Chief Executive Officer (CEO). He has held several senior executive roles within the aerospace and defence industry, and most recently was the CEO of Gardner Aerospace, having previously been CFO since 2018.
https://www.businessinnovationmag.co.uk/new-ceo-for-coventry-based-nasmyth-group/
Battery maker in rush to recharge funding
Britishvolt is in emergency talks to secure new funding from car makers or other investors, which could lead to a sale of the business. The company is in danger of running out of money by the end of the year, according to the Financial Times. Those rumoured to be considering investing include TATA, owner of JLR.
https://www.ft.com/content/a78898b4-de32-423e-92d8-7e4b397ca2d2
Warwick Innovation district recognised in leading research
An independent report from innovation and investment consultancy firm Beauhurst reveals how the University of Warwick and the Warwick Innovation District (WID) is helping to drive the West Midlands’ position as a powerhouse for innovation, which is in turn supporting growth in the local economy.
https://www.businessinnovationmag.co.uk/new-report-from-beauhurst-highlights-strengths-and-opportunities-for-innovation-in-west-midlands/
Warwick architecture giant appoints new head of digital
Corstorphine & Wright Architecture has strengthened its senior team with the appointment of a head of digital, at the Warwick practice with branches around the UK. Neil Carter brings more than four decades of experience to the role, having previously held a senior position at another UK practice.
https://www.insidermedia.com/news/midlands/corstorphine-wright-names-head-of-digital
Air Liquide expands turnover beyond £100m
Turnover has moved past the £100m mark at the UK arm of French-owned Air Liquide, according to new documents, but pre-tax profits decreased by about £25m. Air Liquide UK, based in Coleshill, supplies industrial gases and services to the food, energy, medical and chemical and manufacturing industries.
https://www.insidermedia.com/news/midlands/turnover-up-at-air-liquides-uk-arm-but-profits-fall
Nuneaton Agritech Pioneer wins Award
The founder of Nuneaton-based veg growing kit business HydroVeg Kits has won a UK-wide Sustainable Small Business award. Sue Tonks, who created HydroVeg Kits in 2018, was acknowledged with the Sustainability Changemaker Award 2022. HydroVeg Kits allows gardeners to cultivate up to 120 vegetables in a tiny space.
https://www.businessinnovationmag.co.uk/founder-of-nuneaton-based-hydroveg-kits-wins-sustainability-award/
Tourism sector sees visitors and spending return
South Warwickshire’s tourism industry is on the road to post-pandemic recovery, according to new figures published by Shakespeare’s England, the official tourism body for the area.
In 2021, the region attracted 7.8 million visitors – a 39 per cent increase on the previous year, while tourism employment numbers in the region increased by 4 per cent year-on-year to more than 10,000 people.
https://www.businessinnovationmag.co.uk/new-south-warwickshire-tourism-figures-show-shoots-of-recovery-says-shakespeares-england/
Mike Ashley firm unveils plans for HQ campus in Rugby Borough
Retail giant Frasers Group, the company behind Sports Direct and House of Fraser, has unveiled plans for a global headquarters campus at Ansty. Designed by architect Grimshaw – the firm behind the Eden Project and London's Elizabeth Line – the campus would include logistics, offices, R&D retail, a hotel and leisure facilities.
https://www.insidermedia.com/news/midlands/frasers-group-unveils-plans-for-global-headquarters
Stoford to create 450,000sqft of space near Studley
Developer Stoford has secured planning consent for the speculative development of almost 450,000 sq ft of industrial and logistics accommodation across two units, on the Stratford District/ Redditch. The Net Zero units will comprise 160,208 sq ft and 286,328 sq ft respectively and be developed on the southern side of the 78-acre Redditch Gateway site.
https://www.insidermedia.com/news/midlands/stoford-secures-approval-for-major-redditch-scheme
Demand remains strong for grade A office in Warwick/ Leamington
Lingerie retailer Bravissimo has agreed a ten-year deal to occupy offices at a prominent development in Leamington Spa. Bravissimo, which employs about 600 people, has agreed to sub-let 14,500 sq ft of office space at 1 Athena Drive from Co-operative Energy, while the British Pregnancy Advisory Service (BPAS) has also agreed a ten-year lease for 7,600 sq ft of space at neighbouring 2 Athena Drive.
https://www.insidermedia.com/news/midlands/bravissimo-signs-at-prominent-leamington-development