Lifting off from the Highlands: Scotland to be launchpad for Europe’s first-ever microlauncher rocket May 11, 2022 Europe’s very first microlauncher rocket will be launched in Scotland. Lifting off from Space Hub Sutherland, in the Highlands, the Prime orbital space rocket has been unveiled by Orbex, a spaceflight company. The firm will now press ahead with testing, allowing “dress rehearsals” of rocket launches and the development of launch procedures. Orbex recently revealed [...]
F1 test systems firm AB Dynamics weathers supply chain pressures with price increases on new orders April 27, 2022 AB Dynamics, manufacturer of driving robots and simulators used by the Alfa Romeo Formula 1 team, had £37m in revenue in the six months up to February, more than £10m more than the previous year. The company had £5.7m in operating profit, a 63 per cent increase on 2021, while net cash was down 16 [...]
Brexit-supporting Newark in shock as largest employer shuts up shop and heads for mainland Europe April 21, 2022 Local media and residents in the English town of Newark, as well as its local MP Robert Jenrick, are said to be shocked and disappointed by the decision of food producer Goodlife Foods to shut up shop and move its entire production to mainland Europe. The decision is likely to result in around 110 job [...]
Made in Britain: As Brexit and Covid dismantle supply chains, boom in ‘reshoring’ leads to renaissance in UK manufacturing April 18, 2022 sAs the government admitted last week that there are ‘significant challenges’ to UK stock levels because of Brexit and Covid, is reshoring then perhaps the answer? Last week’s government report, from the Office for National Statistics (ONS), revealed the full extent of tumbling stock levels and broken global supply chains in the wake of Brexit and [...]
March car production falls to lowest in 24 years as markets feel supply chain squeeze April 5, 2022 The UK’s automotive production in March fell to the lowest since 1998 as markets continued to feel the supply chain squeeze. According to data from the Society of Motor Manufacturers and Traders (SMMT), new car registrations fell by 14.3 per cent to 243,479 units while overall the first quarter of 2021 reported a 1.9 per [...]
Growth in UK manufacturing sector plummets to 13-month lows April 1, 2022 Growth in the UK’s manufacturing sector has plunged to its lowest levels in more than a year, due to the impacts of soaring inflation, supply shortages, and the war in Ukraine. The rate of expansion in the UK’s manufacturing sector has dropped to its lowest levels in 13 months, according to S&P Global’s Purchasing Managers [...]
Stellantis to close Russian van plant as supply chain issues bite March 31, 2022 Automotive giant Stellantis said today it will be forced to close its Russian van plant following a shortage of parts. Operating only for the local market, the facility is situated in the western city of Kaluga and was run in partnership with Mitsubish. The world’s fourth-largest car maker didn’t specify whether it would write down [...]
UK’s second biggest automotive firm Pendragon’s profits soar in post-pandemic revival March 23, 2022 The second biggest automotive retailer in the UK, Pendragon, increased its underlying pre-tax profit by ten-fold in 2021. The Nottingham-based firm increased its revenue by 18 per cent from the pandemic year, making £61.5m in profit after 2020’s near-£25m loss. It also had £83m in underlying profit before tax, a major improvement from 2020 which [...]
Manufacturing firm Essentra’s revenue up after pandemic and ‘supply chain headwind’ March 18, 2022 Plastics and fibre manufacturer Essentra experienced a a spike in revenue in 2021, as it continues to weather the storm of supply chain problems impacted by the Ukraine war. The FTSE 250-listed company had an increase in overall revenue to £960m, up from £897m in 2020, representing a seven per sent rise. Its pre-tax profit [...]
Lockheed Martin dives into Satellite Vu’s £20m funding round March 2, 2022 Lockheed Martin has dived into a £20m funding round for Seraphim Space-backed Satellite Vu, as the US aerospace giant looks to plant a new space base in the UK. The London-based satellite firm, which uses infrared imaging and data to observe the Earth from space, has caught the eye of Lockheed in hopes of luring [...]