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Manufacturing bounces back as clouds lighten – Make UK/BDO survey
Britain’s manufacturers are seeing a rebound in activity in the first quarter of the year as the domestic and global markets have improved, easing fears of a significant recession for industry this year according to a survey published today by Make UK and accountancy and business advisory firm BDO.
The findings in the Make UK/BDO Q1 Manufacturing Outlook survey show a marked pick up on the picture in the final quarter of 2022. The figures echo the gradual improvements in other data such as the UK and European PMIs which are now only just in negative territory, as well as a strong pick up in demand from China. Read more via The Manufacturer
UK to unveil battery plant strategy in bid to retain automakers
The UK is poised to unveil plans to boost green manufacturing, as it seeks to lure investment in a new battery plant from Jaguar Land Rover parent Tata Group.
The government’s “Advanced Manufacturing Plan” will form part of the UK response to US President Joe Biden’s $369bn package of green subsidies and tax credits, three people familiar with the plan said. Read more via Automotive News Europe
Bentley records best ever financial results in 2022
Bentley Motors on Friday revealed record financial results for 2022, with operating profits up nearly €1bn compared to 2018. The latest annual figures show a profit of €708m, representing an 82 per cent growth in profit from a four per cent growth in volume. Read more via The Manufacturer
Spirit AeroSystems, Astraius join forces to boost UK launch ambitions
Spirit AeroSystems, Inc. and Astraius Ltd. announced today a collaboration to enhance future satellite launch capabilities from Prestwick Spaceport.
During a visit to the Spaceport by Scottish Government Minister for Business, Trade, Tourism, and Enterprise Ivan McKee, the companies commemorated the announcement with a signing ceremony. Read more via Spirit Aerosystems
Growth for historic manufacturer after NPIF backing
A historic manufacturer has hailed a period of growth in the two years since a management buyout and significant loan from NPIF – Mercia Debt Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund.
Rotherham-based Casting Technology International (CTI) has grown turnover from £6m to £7.2m from 2021 to 2022, and is expected to grow significantly by the end of the year, driven by new client acquisitions and contract wins. Read more via Insider Media
MTC Training announced as runner up for engineering and manufacturing apprenticeship provider of the year
MTC Training, the Manufacturing Technology Centre’s training arm, has been announced as the runner up of the closely contested Engineering and Manufacturing Apprenticeship Provider of the Year category at FE Week and AELP’s annual apprenticeship awards. Read more via The Manufacturer