A round-up of News-in-Brief from the region...
Region's export growth begins to retun
Global exporting from Coventry and Warwickshire is starting to return to pre Covid-19 levels for some companies, it has been revealed. The Coventry and Warwickshire Chamber of Commerce has said that, after a temporary dip in requests for processing export documentation when the lockdown was announced, it has experienced a significant revival in the past week: https://www.businessinnovationmag.co.uk/coventry-and-warwickshire-exporters-seeing-some-markets-improve/
Local OEM car-makers announce production restart dates
Car giant Jaguar Land Rover is to gradually resume production at two of its UK plants in May amid "robust" guidelines to support a return to work. The move follows luxury car-maker Aston Martin Lagonda's May 5th reopening of its South Wales factory, which builds the new DBX SUV. Sports cars at Gaydon are on hold for the moment, although limited PPE production for the NHS continues: https://www.itv.com/news/2020-04-23/jaguar-land-rover-and-aston-martin-to-restart-production/
Major new battery technology show moves to December
The Battery Cells & Systems Expo and Vehicle Electrification Expo and their co-located events The Advanced Materials Show and Ceramics UK have been put back to 2nd & 3rd December 2020. The shows will take place at NAEC at Stoneleigh Park, Kenilworth: https://batterysystemsexpo.com/battery-cells-systems-expo-and-vehicle-electrification-expo-will-now-take-place-on-2nd-3rd-december-2020-stoneleigh-uk/
Bedworth Dynamo secures major investment
A local manufacturer responsible for producing fully electric Hackney Carriages – approved by Transport for London - has secured a £1.25m loan from the Midlands Engine Investment Fund and Maven Capital Partners. It will enable Dynamo to scale up production, recruiting and training 50 new employees: https://www.thebusinessdesk.com/westmidlands/news/2040477-electric-taxi%c2%a0manufacturer-to-recruit-50-staff-following-1.25m-loan?utm_source=newsletter&utm_medium=email&utm_campaign=WestMidlands_6th_May_2020_Daily
Former Daimler factory re-engineered as Creative Hub
A £2.4m creative hub is to be built in Coventry - the first purpose-built and collaborative art production facility in the city. The Daimler Powerhouse, all that remains of the UK’s first volume car factory opened in 1896, is to be transformed into a major centre to provide dedicated spaces for artists and resident creative companies: https://www.insidermedia.com/news/midlands/2.4m-creative-hub-set-for-city
Very Light Rail project receives substantial boost
Coventry’s Very Light Rail project, which is being developed by WMG at the University of Warwick and TDI International of Stratford-upon-Avon, has secured further development funding of £1.5m from West Midlands Combined Authority (WMCA). The money will support the development of low-cost track for the light rail carriages already in development: https://www.businessinnovationmag.co.uk/coventrys-light-rail-project-secures-1-5-million-research-funding/
Rugby’s Quartzelec reports strong financial results
Turnover and pre-tax profits increased at Rugby-based electrical engineering company Quartzinvest, the parent company of Quartzelec, which works with the likes of the Royal Navy and the NHS. During its latest financial year, it has reported a turnover of £76.1m for the 12 months to 30 September 2019, up from £65.8m: https://www.insidermedia.com/news/midlands/results-rise-at-electrical-engineering-giant?utm_source=westmidlands_newsletter&utm_campaign=westmidlands_news_tracker&utm_medium=business_article
Technology company secures investment
FireAngel Safety Technology Group plc, based at University of Warwick Science Park, and one of Europe’s leading developers and suppliers of home safety products, has raised £6.1m for further R&D into connected alarm systems: https://www.businessinnovationmag.co.uk/fireangel-safety-technology-fundraise-secures-6-million/
Queen's Awards recognise Leamington and Bedworth companies' export excellence
Leamington Spa’s innovative driveline specialists Drive Systems Design and Bedworth’s Arrowsmith Engineering are among the local Warwickshire companies to be recognised recently in the Queens Awards for International Trade.: https://www.businessinnovationmag.co.uk/export-boom-lands-queens-award-for-arrowsmith-engineering/
Games for Carers launched to thank NHS staff
The UK games industry has launched a major initiative, Games for Carers, to thank frontline NHS staff for their inspirational work during the Covid-19 crisis. More than 85,000 games across a wide range of genres, age ratings and platforms have been donated by the industry for NHS workers to download free: https://ukie.org.uk/news/2020/04/games-carers-uk-games-industry-unites-say-thank-you-our-nhs-heroes
Screen-industry body to support the growth of film, TV and games development sector
Create Central has been awarded £1million through the BFI’s National Cluster Growth Fund using National Lottery money to deliver a long term growth plan specifically to meet the needs of the West Midlands’ screen businesses: https://www.cwlep.com/news/investment-screen-industry-body-support-growth-west-midlands-film-tv-and-games-sector
West Midlands faces major COVID impacts
According to UK Powerhouse, a report by Irwin Mitchell and the Centre for Economic and Business Research (Cebr), the West Midlands has been one of the hardest hit by the coronavirus lockdown, with GVA estimated to be falling in the region by 40% or £245m a day: https://www.thebusinessdesk.com/westmidlands/news/2040480-west-midlands-one-of-biggest-victims-of-covid-19-lockdown?utm_source=newsletter&utm_medium=email&utm_campaign=WestMidlands_6th_May_2020_Daily
Large Nuneaton housing site sold
A development site in Warwickshire with planning permission for 850 homes has been sold in an eight-figure deal. Land at Callendar Farm, in Nuneaton, was sold to Taylor Wimpey and Jelson Homes: https://www.businessinnovationmag.co.uk/warwickshire-development-site-sold-in-major-eight-figure-deal/
Rugby Retail Park sale stalls
Rugby’s Elliott's Field Retail Park is among nine sites owned by Hammerson that were part of a £400m sale that has fallen through: https://www.insidermedia.com/news/national/retail-parks-deal-worth-400m-collapses?utm_source=westmidlands_newsletter&utm_campaign=westmidlands_news_tracker&utm_medium=property_article
Queensberry appointed for Nuneaton town centre redevelopment
Nuneaton and Bedworth Borough Council has appointed Queensberry as the development partner for part of its plan to regenerate Nuneaton’s town centre. Queensberry will help deliver the Abbey Street part of the Transforming Nuneaton initiative, one of 12 key sites identified in the town centre for development: https://www.egi.co.uk/news/council-appoints-queensberry-for-nuneaton-regeneration-scheme/
ChamberLive launched by local Chamber
The Coventry and Warwickshire Chamber of Commerce has launched ChamberLIVE, which will bring together members and also hear from expert speakers during the period when face-to-face events are not possible: https://www.businessinnovationmag.co.uk/coventry-warwickshire-chamber-launches-online-networking/