March was the best month to date for UK car registrations, according to the car industry trade body. The Society of Motor Manufacturers and Traders (SMMT) said 562,337 new cars were registered in March, up 8.4% on the same month last year. Those figures were boosted by a change in the number plate in March and planned changes to the Vehicle Excise Duty (VED), it said.
“These record figures are undoubtedly boosted by consumers reacting to new VED changes, pulling forward purchases ...
Aeromet International, a leading supplier of airframe and aero engine components has expanded its relationship with Boeing by securing the biggest set of orders in the company’s 40-year history. According to Aeromet, it has been awarded a new contract to supply parts to Boeing’s next generation 777X aircraft, alongside extensions to existing long-term agreements covering the supply of parts for 737, 767 and 777s.
Aeromet specialises in aluminium and magnesium cast parts, employing 260 staff at sites in Worcester, Rochester and Sittingbourne. ...
UK manufacturing production rose sharply in the last few months of 2016. January did see a modest setback but this is likely to be temporary as orders certainly look strong enough to generate further output gains.
As a result, 2017 will probably see a further acceleration in output growth. Near term, the boost to competitiveness from sterling’s depreciation last year last is probably a key driver of this upturn, although some surveys show domestic sales rising more quickly than external sales.
Looking further ...
Ineos, the petrochemicals group, is in talks with BP to buy the Forties pipeline system, one of the most strategically important pieces of infrastructure in the North Sea.
The Forties network is made up of about 100 miles of pipeline and handles around 450,000 barrels of oil a day equivalent to 40 per cent of UK production —from 80 different oilfields.
A sale of the pipeline system would complete BP’s withdrawal from assets that once formed the heart of its operations after North ...
Black Country training provider, In-Comm Training has been chosen to help deliver a suite of interactive online training resources for the UK aerospace sector. In-Comm Training, which operates two academies, is part of the £320,000 EU-funded Erasmus+ AEERO (Aerospace Engineering ECVET Resources Online) project that will develop a suite of interactive online training resources.
The University of Wolverhampton secured the money for the collaboration and the University’s Faculty of Arts is now working with the company, a number of local manufacturers and ...
The new owners of the UK’s last aluminium smelter plan to make vehicle components on the site in a move that could create hundreds of jobs. Companies created by GFG Alliance took over the running of the Lochaber Smelter near Fort William last year.
The new project would involve the creation of a steel rolling mill and facilities for making components such alloy wheels. It could add 600 jobs to the 170 already involved with the yard. The auto-components manufacturing plant forms ...
A fourth phase of a wind farm straddling the boundary between the Borders and East Lothian is being considered. It would take the total number of turbines at Crystal Rig in the Lammermuir Hills to over 100. A briefing note on the latest proposal for a further 11 turbines has been submitted to Scottish Borders Council.
Developers Fred Olsen Renewables said it was an “ideal location” to help meet renewable energy targets. When the original 25-turbine Crystal Rig development became operational in ...
Toyota Motor Europe has announced that it will be investing a further £240m in its Derbyshire site to improve plant competitiveness and promote UK supply chain efficiencies.
Starting this year, Toyota’s Burnaston facility is expected to be progressively upgraded with new equipment, technologies and systems to enable the production of vehicles on the Toyota New Global Architecture (TNGA) platform. The investment programme also includes (subject to due diligence) up to £21.3m support from the UK government for training, research and development, and ...
This is Lloyds Bank’s third annual survey of the UK automotive manufacturing sector, part of a series of reports that look to examine the main opportunities and issues affecting Britain’s key industries.
2016 was a tumultuous year, with huge political upheaval across the globe bringing potential economic uncertainties.
The UK’s decision to leave the EU created the biggest potential uncertainty for the UK’s automotive industry last year. Not only are many of the car makers operating in the UK internationally owned – from Bentley to BMW – but the EU is the biggest ...
A bribery settlement and the fall in the pound have pushed engineering giant Rolls-Royce to a record loss. The jet engine maker reported a loss before tax of £4.6bn for 2016.
Rolls-Royce agreed to pay £671 m to settle corruption cases with UK and US authorities and it has written off £4.4bn from currency related contracts.
Like many international businesses, Rolls-Royce usually “hedges” its bets to protect itself from fluctuating currency markets. Most international aerospace contracts are priced in dollars, but, as a ...