Reshoring & Manufacturing News - Page 52 of 53

The collapse in demand for heavy trucks in the United States and the moribund investment outlook in the oil and gas industry has prompted another profit alert from Senior.

The collapse in demand for heavy trucks in the United States and the moribund investment outlook in the oil and gas industry has prompted another profit alert from Senior. Shares in the British engineering group plunged close to 3 and half-year lows, down nearly 29p at 196p, after it warned that profits and after it warned that profits and margins were falling in its Flexonics division. The division makes the tubes, joints, turbo injectors, connectors and manifold systems of large diesel engines, ...

Areva, one of the French companies at the heart of the controversial Hinkley Point C nuclear project, has unveiled plans to break itself up into three parts in a bid to stem huge losses.

Areva, one of the French companies at the heart of the controversial Hinkley Point C nuclear project, has unveiled plans to break itself up into three parts in a bid to stem huge losses. The 87% state-owned atomic engineering and uranium mining company is hoping to raise €9bn (£7bn) from the government and from selling off assets after running up losses of €2bn last year. Areva, a 10% equity participant in the £18bn planned new Hinkley scheme, is also using the ...

The EDF workers’ committee has turned to the French courts to try to further delay the group’s controversial £18bn project to build Britain’s Hinkley Point nuclear power plant.

The EDF workers’ committee has turned to the French courts to try to further delay the group’s controversial £18bn project to build Britain’s Hinkley Point nuclear power plant. After its intervention in April, the committee – which is an official body within EDF made up largely of union members — was given three months, until July 4, to say if it would support the project or not. The committee filed a legal claim – alleging that EDF had “refused” ...

Developers hoping to build a £100m hydro power plant in a disused Gwynedd quarry have withdrawn an application for a key permit.

Developers hoping to build a £100m hydro power plant in a disused Gwynedd quarry have withdrawn an application for a key permit. Snowdonia Pumped Hydro (SPH) needs a licence to discharge water into a lake at Llanberis as parts of the plans. Natural Resources Wales (NRW) said it had not been provided with enough information about the scheme. SPH said plans for the power project are continuing, and it was “not concerned” by the permit development. “As a developer we ...

Burmieister & Wain Scandinavian Contractor (BWSC) have been working on a new £140 million biomass facility in Kent.

Burmieister & Wain Scandinavian Contractor (BWSC) have been working on a new £140 million biomass facility in Kent. The renewable energy plant will generate power and heat requirements for Discovery Park in Sandwich. Around 300 construction jobs will be created by the project, with biomass fuel sourced from various wood types, including coppice grown locally in Kent and East Sussex. Paul Barber, Managing Director at Discovery Park, said “The new biomass plant, is a vital part of ensuring the site’s ongoing success ...

Volkswagen plans to launch 30 all-electric models to reposition itself as a leader in “green” transport.

Volkswagen plans to launch 30 all-electric models to reposition itself as a leader in “green” transport. Matthias Mueller, chief executive of Europe’s biggest carmaker, said huge investments would be needed as the firm moves beyond the diesel scandal. He hopes that by 2025, all-electric cars would account for about 20-25% of the German carmaker’s annual sales. Outlining what he described as the “key building blocks in the new group strategy”, Mr Mueller said VW aimed to “transform its core automotive business or, ...

Mitsubishi Motors has forecast a net loss of 145bn yen ($1.4bn, £900m) for the current business year in the wake of its fuel efficiency scandal.

Mitsubishi Motors has forecast a net loss of 145bn yen ($1.4bn, £900m) for the current business year in the wake of its fuel efficiency scandal. The expected loss marks the first fall in profit for the car firm since the 2008 financial crisis. Mitsubishi had already reported a 39% drop in net profit in the year to the end of March due to the fuel scandal. In the wake of the scandal, some $3bn was wiped off its market value and in ...

EDM, a leading global provider of training simulators to the civil aviation and defence sectors, has announced that it is investing £1.3m to expand its manufacturing facility.

EDM, a leading global provider of training simulators to the civil aviation and defence sectors, has announced that it is investing £1.3m to expand its manufacturing facility. The new 18,000 sq ft. structure is being built at EDM’s headquarters in Manchester to meet the demands of the company’s rapidly increasing order book. The purpose-built facility will house up to 40 employees across a range of disciplines and provide all the resources needed to enable the company to manufacture its full range of ...

Boeing has announced that it has reached agreement to sell 100 aircraft to Iran Air in a deal that could be worth $25bn (£17bn) at list prices.

Boeing has announced that it has reached agreement to sell 100 aircraft to Iran Air in a deal that could be worth $25bn (£17bn) at list prices. The deal marks a big step in US-Iran economic relations after sanctions were lifted on Tehran last year. Boeing said it is working with regulators to get the necessary US government approvals. If the deal is approved it will be the largest between a US business and Iran since the 1979 ...

The Advanced Forming Research Centre (AFRC)

The Advanced Forming Research Centre is a globally recognised centre of excellence in metal forming research, manufacturing technologies and innovation. It is the heart of Scotland’s manufacturing research and development sector and is the country’s only High Value Manufacturing Catapult centre; one of just seven in the UK. The AFRC addresses the important challenge of taking low maturity technologies developed within research environments and deploying them within industrial manufacturing facilities. It fills the gap between traditional university research and the industrial need to ...