News in brief - a whistle-stop tour of what's happening around Warwickshire's business world...
Investors back Warwick audio technology developer
A Warwick-based developer of audio technology has secured £3.1m in new funding from Mercia Technologies, GuoGuang Electric Co and a number of other private investors.
Warwick Audio Technologies is a specialist developer of a new generation of planar audio transducers.
In total, Warwick Audio has received £4.3m of direct investment from Mercia and the group now holds a 64 per cent equity stake in the business.
https://www.insidermedia.com/insider/midlands/Investors-back-Warwick-audio-technology-developer?utm_source=westmidlands_newsletter&utm_campaign=westmidlands_news_tracker&utm_medium=deals_article
Cheesemaker set for large wedge as first half volumes increase
Cheese and butter producer Dairy Crest has said its four core brands are all expected to help the company to a strong first half.
In a pre-close trading update for the six months ending September 30, the group said it expected that the combined volumes of Cathedral City, Clover, Country Life and Frylight would be ahead of the same period last year.
http://www.thebusinessdesk.com/westmidlands/news/2009843-cheesemaker-set-large-wedge-first-half-volumes-increase
Craft beer from Nuneaton named ‘best pint in Britain
A pint of real ale brewed in Nuneaton is officially the best in the country after it was crowned the 'supreme champion beer of Britain.'
Goat's Milk is officially the toast of the nation after it won the prestigious accolade at the Campaign for Real Ale (CAMRA) Great British Beer Festival in London.
http://www.coventrytelegraph.net/news/craft-beer-made-warwickshire-been-13451386
Defence contracts win for HOBIRA MIRA
Nuneaton-based engineering, research and product testing company HORIBA MIRA has been awarded two contracts for the development of autonomous systems in the Defence and Security Accelerator’s Last Mile competition.
The win, which was announced by defence minister Harriett Baldwin, will involve the company providing systems for the autonomy of unmanned ground vehicles (UGVs) using its Modular Autonomous Control Equipment (MACE) as well as an intelligent routing and path planning system using artificial intelligence.
https://www.insidermedia.com/insider/midlands/defence-contracts-win-for-horiba-mira?utm_source=westmidlands_newsletter&utm_campaign=westmidlands_news_tracker&utm_medium=manufacturing_article
Tata Technologies’ new European HQ now open in Warwickshire
Tata Technologies’ new European headquarters in Warwickshire is now open for business.
The base was launched after Broadstock Office Furniture completed its contract to provide solutions for the global engineering consultant’s new interiors.
Tasked with creating a modern, clean and inspiring work environment, Broadstock designed and provided furniture for all the internal space at the state-of-the-art offices in Leamington Spa. Work began on the £700,000 project in April 2017.
https://www.insidermedia.com/insider/midlands/tata-technologies-european-hq-now-open?utm_source=westmidlands_newsletter&utm_campaign=westmidlands_news_tracker&utm_medium=property_article
New creative industries toolkit launched
Creative industry leaders have launched a new national resource designed to maximise the transforming power of the fast-growing creative industries in cities and regions across the UK.
The toolkit highlights examples of how creative industries have created economic, social and cultural benefits in different regions, and identifies steps to ensure these benefits are fully realised across the UK.
It was launched by Andy Street, Mayor of the West Midlands Combined Authority, and leading industry figures and thinkers at an event hosted by the Creative Industries Council and the West Midlands Combined Authority at Birmingham City University.
http://www.thecreativeindustries.co.uk/uk-creative-overview/news-and-views/news-creative-industries-toolkit-launched
Aston Martin strikes £500m deal with Japan
Warwickshire luxury car maker Aston Martin Lagonda has announced a £500m package of investment and trade with Japan.
It was revealed by Dr Andy Palmer, Aston Martin’s president and chief executive officer, who is in Japan as part of the UK delegation accompanying Prime Minister Theresa May.
Warwickshire-based Rybrook drives past £500m turnover mark
Turnover has been driven up at Warwickshire-based Rybrook Holdings, one of the largest privately owned new and used car retailer groups in the UK, following a series of acquisitions and new ventures.
The company, which represents most major specialist and luxury franchises, has reported a jump in turnover from £432.4m in 2015 to £575.4m for the year to 31 December 2016.
https://www.insidermedia.com/insider/business/rybrook-drives-past-500m-turnover-mark
Agents appointed for 34,000sqft grade A office development at Abbey Park
Agents have been appointed to market the first phase of a major Warwickshire office development that is expected to create about 350 jobs.
Birmingham-based property management service KWB and Coventry-headquartered commercial property specialist Bromwich Hardy will promote the new 34,000 sq ft grade A office building at Abbey Park, Stoneleigh.
https://www.insidermedia.com/insider/midlands/agents-named-for-new-job-creating-warwickshire-office-development
Specialist coachbuilder moves to Attleborough Fields following 200% growth
A family-run firm that helps wheelchair users lead more independent lives has expanded once again.
Coachbuilt GB has relocated to bigger premises in Nuneaton in a bid to meet the demand for its work.
The business has moved from the Carlyon Road Industrial Estate in Atherstone to Attleborough Fields Industrial Estate in Nuneaton.
http://eastmidlandsbusinessnews.co.uk/coachbuilt-gb-expands-meet-huge-demand/
Turnover rockets at Codemasters
Turnover has rocketed by almost £20m at West Midlands game developer Codemasters, driven by the launch of new titles across PlayStation, Oculus and mobile platforms, newly filed accounts have revealed.
In the year to 31 March 2017, Codemasters Group Holdings Ltd generated revenues of £51.1m compared to £31m a year earlier. Pre-tax losses narrowed slightly to £10.17m, while operating profit soared to £13.2m from £2.8m in 2016.
https://www.insidermedia.com/insider/midlands/new-releases-boost-codemasters-revenues?utm_source=westmidlands_newsletter&utm_campaign=westmidlands_news_tracker&utm_medium=top_story_article
Nuneaton makes UK top 20 for FDI performance
https://markgregoryeconomics.ey.com/2017/08/07/time-to-act-improving-the-trade-performance-of-the-english-regions/
‘Secret’ project allows Playground Games to double its workforce by the end of the year
The independent Midlands based video games company has announced a major expansion at its Leamington Spa headquarters and is looking to recruit top talent from around the world.
Playground Games, which develops the Forza Horizon driving games for technology giant Microsoft, is growing its workforce from 150 to 300 before the end of the year after winning a new project.
http://www.bqlive.co.uk/creative-media/2017/08/08/news/secret-project-allows-playground-games-to-double-its-workforce-by-the-end-of-the-year-26813/#.WYluFb4N840.twitter
Former University of Warwick student launches groundbreaking test for heart conditions
A former University of Warwick student has launched a ground-breaking DNA test for heart conditions that will help to save lives.
Coventry-based entrepreneur Abdullah Sabyah, who runs start-up company Rightangled, has been backed financially by NHS England through the West Midlands Academic Health Science Network (WMAHSN) and is being supported by the University of Warwick Science Park’s Business Ready programme to help bring the Heart DNA Test to market.
https://bdaily.co.uk/articles/2017/09/21/former-university-of-warwick-student-launches-groundbreaking-test-for-heart-conditions
Stratford’s Salt flying high in restaurant rankings
A Stratford-upon-Avon restaurant, which owes its existence to crowdfunding, has been named as the best new entry in the prestigious Good Food Guide.
Salt opened on Church Street back in March after chef Paul Foster managed to raise an incredible £102,000 through crowdfunding to open the restaurant with his wife Rhianin.
http://www.stratford-herald.com/75114-stratfords-salt-flying-high-restaurant-rankings.html
Hundreds of Businesses Attend Major Expo
Hundreds of companies gathered for one of the biggest business events in Coventry and Warwickshire.
The Chamber’s Business & Trade Expo, held at Stoneleigh Park and sponsored by WarwickNet, attracted around 200 exhibitors and a further 350 business people throughout the day.
The event was a chance for companies from across the area to meet, network and do business as well as attend seminars on topics such as marketing, international trade, cyber security, speed networking and women in business.
https://bdaily.co.uk/articles/2017/09/18/hundreds-of-businesses-attend-major-expo
Major Project to Put Studley on the Map
A major project ‘to put Studley on the map’ has won the backing of the parish council.
The scheme, which is being piloted by the Studley in Business group would see the introduction of
- A website to inform visitors and locals about events, shops, tourism and more.
- New signs to encourage people to stop in Studley.
- Information boards for heritage, walks, shops and local attractions such as the nature reserve.
- Banners to advertise events, venues and organisations.
- Gateway features to local countryside.
https://stratfordobserver.co.uk/news/major-project-to-put-studley-on-the-map/