Plant machinery supplier moves into new 5,000 sq ft HQ

Plant machinery supplier, Stirlin Plant, has moved into a new headquarters near Lincoln. The new HQ occupies a prominent position on Riverside Enterprise Park in Saxilby (a commercial development by Stirlin and Castle Group), adjacent the A57 trunk road, with proximity to Lincoln City Centre and easy access to the Lincoln Bypass. The 5,000 sq ft office and warehouse was designed by Johnathan Roberts Architects and built by established property developer and construction company, Stirlin. Sales manager of Stirlin Plant, Ady Brodrick, says: “We are thrilled to have now moved into our new HQ in Saxilby. The purpose-built facility provides us with the space to expand our team, our services and our product portfolio, as well as allowing us to provide a more streamline experience for our customer base. “The spacious new premises gives us treble the workshop space, with contemporary meeting rooms to host client meetings and a larger display area to showcase our extensive product range. “We are extremely grateful for our loyal and supportive customers and our supply partners, who have contributed to our exciting growth. We’re looking forward to the new opportunities the new HQ will bring and to inviting our customers over for an official open day when we’re settled in. Thank you to the team at Stirlin for all their hard-work.” Tony Lawton, Managing Director of Stirlin, says: “We are delighted to have brought this project to a successful fruition and hand Stirlin Plant the keys to their new HQ. It’s been a pleasure to work with them throughout the design and construction process and bring their ideas to life, providing the space for their business to grow.”

Expanding tech company brings jobs and investment to Lincoln

A rapidly expanding company has moved into a unique building in Lincoln to accommodate its growth and high-spec tech requirements. Since 2019, research and development business SRC UK has grown from 1 employee to 30 and the company is looking to double in size again by the end of the year. Its core business is with the Ministry of Defence, providing analytical software, big data analytics, consultancy and training. SRC UK was initially based in the Boole Technology Centre at Lincoln Science & Innovation Park but this month moved into the Gravity R&D building part of the Park’s second phase of expansion. This specially designed facility, part funded by the Greater Lincolnshire LEP and the Midlands Engine, was developed for firms like SRC UK. “The Gravity Building gives us enough space to grow into,” says Steve Davies, SRC UK’s managing director. “And its sophisticated design is ideal to our needs.” This means that SRC UK can run its own software and produce its own data within the building on a unique cloud-based system as well as provide innovative space for other local companies to use. Steve, worked in the RAF as a Weapons Systems Officer for 36 years and was retiring just as the opportunity to set up the UK division of US-based research and development company SRC Inc came up.  “I was in the right place at the right time with the core skill set that they needed,” says Steve. “Since then, everybody who has joined has played a vital role to get us to where we are today so quickly.” “Our ethos is centred around collaboration; whether that be creating a new way of working with other companies, the unique way we build the company around graduates or building new products based on our people’s ideas.” The company has broken the mould with how the government works with graduates in the sensitive area of big data analytics. “Initially, the government would only work with people with decades of experience in this niche area. We take STEM graduates with a sound educational background and layer on targeted training so they have specific experience and skills and they evolve into the job that suits that individual the most.”  This blended approach has led to SRC UK being the first company in the UK to have early career graduates supporting MOD data production. SRC UK is a not-for-profit company committed to making a positive impact on the city and county. It aims to employ locally, including graduates from the University of Lincoln, collaborate with local businesses and to use local resources. SRC UK, which is a disability confident employer, has signed up to the Lincoln Social Responsibility Charter and supports charities such as the Give an Hour scheme where staff volunteer in local schools, the C2C2C charity bike ride around Lincolnshire and Lincoln food banks. “We see ourselves as a responsible company which is very keen on generating revenue and jobs for Lincoln and being part of the Science Park’s community and its continuing expansion,” says Steve.

Outlook upgraded as shipping company reports strong revenue growth

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Shipping company DFDS upgraded its outlook for the full year on the back of strong revenue growth of 67% due to passengers returning much faster than expected and higher freight earnings, increasing EBITDA by 63%. CEO Torben Carlsen said: “We delivered an excellent set of results for the second quarter with EBITDA increasing 63%. We are very satisfied with our performance across all business units, which demonstrates the resilience of our business and our ability to adapt to difficult market conditions. We improved our Logistics operating margins and delivered strong cash flow. “In Ferry, volumes increased 4.1% driven by continued growth in Turkish exports to Europe, as well as an increase in capacity on our routes between Turkey and France and Turkey and Italy. We also saw passenger traffic return faster than expected as people were eager to travel again. Ferry travel also benefited from airline travel disruptions.” While the current macroeconomic situation and continue, supply chain constraints create uncertainty regarding economic growth expectations in 2022, demand for freight services, which include to and from Grimsby and Immingham, remains robust. As a result, DFDS now expects to grow revenue by around 40% in 2022. This is based on the strong performance for the first half of 2022, higher bunker surcharge revenue, and continued recovery in passenger volumes.

Planning permission granted for new Huddersfield health campus

The University of Huddersfield has received a committee resolution from Kirklees Council to grant Reserved Matters planning permission, so that the construction of the prominent first phase building on the Southgate site that will become the home to the University’s new National Health Innovation Campus can proceed. This follows a meeting of Kirklees Council’s Strategic Planning Committee, and the University is now looking forward to the issue of the formal decision notice so it can commence the development of the new 10,000 square metre first phase building. It has been designed by locally-based architects AHR, who have previously worked with the University on the award-winning Barbara Hepworth Building and the Oastler Building. This first phase of the Southgate development will include a new home for the Health and Wellbeing Academy. The local community will also benefit from access to an award-winning podiatry clinic, a telehealth service, sports and physiotherapy clinics, parent and child clinics, mental health clinics and public-facing spaces dedicated to social science. The new building represents a significant investment by the University, and will be the biggest construction project in the town as the construction of the University’s second-largest building proceeds. The building will host a number of classrooms, labs and other specialist facilities for learning which will include:
  • A mock-up operating theatre
  • A mock-up ambulance known as a ‘simbulance’
  • A community flat/dwelling that will replicate visiting patients at home
  • The award-winning Podiatry Clinic, which will be open to the public
  • Dedicated office and workspace for external partners
University vice-chancellor professor Bob Cryan CBE said: “This is a significant step along the road to our goal of improving health outcomes and leading innovation in healthcare for the North of England with the National Health Innovation Campus. “The new building will be a welcoming space for the local community, students and staff. It will help bring together our public-facing health facilities, our entrepreneurial academic activity and research, and make a key contribution to the health economy at a local level and on a larger scale.”

Changes on tariff rules predicted to lower costs for businesses and consumers

The Government has launched an import tariff regime expected to cut more than £750m from the cost of imports every year by reducing tariffs on hundreds of products exported from developing countries. The Developing Countries Trading Scheme goes further than the EU’s Generalised Scheme of Preferences, and is on top of the thousands of products which developing countries can already export to the UK duty-free, and will mean 99% of goods imported from Africa, for example will enter the UK duty free. The scheme means that a wide variety of products that aren’t widely produced in the UK will benefit from lower or zero tariffs. Secretary of State for International Trade Anne-Marie Trevelyan said: “As an independent trading nation, we are taking back control of our trade policy and making decisions that back UK businesses, help with the cost of living, and support the economies of developing countries around the world.

“UK businesses can look forward to less red-tape and lower costs, incentivising firms to import goods from developing countries.”

The DCTS covers 65 countries across Africa, Asia, Oceania and the Americas including some of the poorest countries in the world. It removes some seasonal tariffs, meaning more options for British supermarkets and shops all year round. For example, cucumbers, which can’t be grown in the UK in the winter, will now be tariff-free during this period for the majority of countries in the scheme. The scheme also simplifies complex trade rules such as rules of origin – the rules dictating what proportion of a product must be made in its country of origin. This makes it easier for businesses like family-owned textile business DBL Group from Bangladesh to export, encouraging developing countries to play a larger role in the global trade community. Mohammed Jabbar, MD of DBL Group said: “These new rules will be a game changer for us. They mean we will be able to source our cotton from many more countries than we could before, which will make the business more competitive and our supply chains a lot more resilient.” This work is part of a wider push by the UK to drive a free trade, pro-growth agenda across the globe, using trade to drive prosperity and help eradicate poverty. This drive includes a new initiative called Platinum Partnerships, designed to grow trade between the UK and selected lower and middle-income Commonwealth countries and reduce dependency on aid. The partnerships will strengthen two-way green trade and investment, helping countries’ adaptation to climate change.

Investment sees Vale of Mowbray crack Scotch Egg market

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A pork pie brand has launched two new product ranges and expanded its North Yorkshire team by 30, thanks to funding from BEF and NPIF – BEF & FFE Microfinance, which is managed by BEF and Finance For Enterprise and part of the Northern Powerhouse Investment Fund. Leeming’s Vale of Mowbray has built a new £4m production line and entered the Scotch Egg market, with the help of a £250,000 investment. This included £100,000 from NPIF – BEF & FFE Microfinance and £150,000 invested directly by BEF. The new production line can produce up to 500 eggs per minute and has created 30 local jobs. “We want to drive some much-needed quality into the Scotch Eggs category,” says Vale of Mowbray MD Mark Gatenby. “This is a real step-change for the market, and we are proud to be able to drive innovation and growth.” Vale of Mowbray has been producing pies in its family-owned bakery in Leeming for 200 years. Lee Vickers, investment manager at BEF, said: “Vale of Mowbray make 1.5 million pork pies each week. Our investment will help this family owned business grow their product range and profits at a time when many businesses in their sector continue to struggle.” Simon Jackson, head of lending, BEF, said: “Our whole ethos is about supporting northern businesses as they grow and we know the struggles food manufacturers have faced over the last two years, so it was fantastic to be involved with such a legendary local company and help them expand and diversify.”

Bradford Council bids for £19m Level Up for Keighley

Bradford Council has revealed new details on its bold multi-million pound bid to Level Up Keighley to grow the local economy and create jobs. The local authority has submitted an ambitious £19m bid designed to drive highly-skilled and paid jobs, open up much sought-after prime business space and upgrade an important commuter route into the town. Working with education partners, Bradford Council has submitted a bid to give education and training a boost to drive high-skilled, highly-paid local jobs. A new reconfigured and expanded Keighley College and Bradford University Advanced Manufacturing hub would support research and development in emerging technologies such as advanced robotics. The high-tech Advanced Robotics and Engineering Institute facility would offer higher level skills and research and development, HNC, HND, Degree, Master; and PhD opportunities to stimulate local engineering innovation. The council depot at Stockbridge would be demolished to create the reconfigured facilities and a large proportion of the site would be offered to entrepreneurs to create new advanced manufacturing and engineering businesses clustered around the college and university. Over 34,000 square metres of prime business space could be opened up with the potential to host over 700 new jobs. The funding is aimed at addressing abnormal cost constraints – prohibitive additional costs that have blocked development in the past. The funded groundworks, flood alleviation, and site clearance could convert over 31,000 square metres of brownfield land into lucrative employment space at Beechcliffe, Airedale Park, Bradford Road East Walk Mill and Mariner Walk. A further 3,000 square metres of employment floor space will be developed at Stockbridge as part of the AREI campus. Bradford Council has submitted a proposal to transform the Keighley Worth Valley Railway into an enhanced rail transport hub offering workers a fast and efficient commute into the town. This includes boosting capacity by restoring and upgrading two tracks and improving the rolling stock to produce a quick, comfortable and reliable link between Keighley and Oxenhope. Councillor Susan Hinchcliffe, leader of Bradford Council, said: “Keighley remains a great place for businesses to grow and invest. “The district is the UK’s number one Levelling Up opportunity and we have put in a significant amount of time and money into this bid to ensure it is compelling and competitive. “These ambitious proposals include a range of recession-busting projects which, if supported by the Government, will make a significant difference to the area.”

James Hall takes sole charge of Key Capital Partners following three years as joint managing partner

Following three years as joint managing partner at Leeds-based lower mid market private equity firm Key Capital Partners, James Hall has taken sole charge of the firm. Previous managing partner Owen Trotter steps away from day-to-day management responsibilities. Owen was appointed managing partner of the firm in 2011 after founding the partnership with Mike Fell and Peter Armitage in 2007. James was appointed joint managing partner alongside Owen in 2019 in the first part of a structured succession plan that culminates in today’s announcement. Since James joined the firm in 2015, Key has completed 12 new investments and exited 12 businesses. During that time, the investment team has helped numerous teams successfully grow, resulting in the generation of hundreds of jobs across the UK. The 5 exits from the most recent fund (of Sparta Global, CMO, Routes and in recent weeks Avantis and YorkTest) have realised an average money multiple of 4.3x. In addition, the Key team has been strengthened with a number of new recruits across both the Leeds and London offices, as well as several promotions across investment, management and finance. Key has also raised two institutionally backed funds, allowing it to continue to focus on its core underserved SME market. Commenting on the last 7 years, James Hall said: “I would like to thank Owen for his contribution to the firm over the past 11 years. Owen has been an integral part of the team, particularly in the early years. We look forward to Owen continuing to contribute to the firm in his role as a partner. “I am also extremely proud of what Key and the management teams we have backed have achieved. We have invested in some outstanding businesses and supported their management to grow and thrive despite a multitude of global challenges. “Significant recognition must go to the management teams who have steadfastly stuck to their beliefs, invested in people, systems and infrastructure and have built robust, exciting and sustainable businesses. We have loved being a part of it! “I am looking forward to the next period of Key’s development and I am excited about what can be achieved in partnership with like-minded entrepreneurs with whom we share common values and goals for their businesses.”

South Yorkshire to get £570m government funding to spend on sustainable transport

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The Department for Transport has awarded the South Yorkshire £570m to invest in sustainable transport schemes across the county, including several Sheffield initiatives. The funding – City Region Sustainable Transport Settlement – will support schemes for the next five years and delivery will be managed by the South Yorkshire Mayoral Authority. In Sheffield, Supertram will be improved and several priority bus routes will be established, including better active travel links to the north of the city, via the Northern General Hospital. Wider schemes across the region will also have an impact on Sheffield’s transport facilities, including improvements to the bus network and the introduction of zero emission buses. The latest funding complements the work already in progress in Sheffield through the Connecting Sheffield schemes, which aim to transform the city’s transport infrastructure to encourage walking, cycling and travel by public transport. Cllr Julie Grocutt, Co-Chair of Sheffield’s Transport, Regeneration and Climate Policy Committee, said:We are committed to safer and more sustainable travel and it is fantastic that Sheffield, as well as the wider region, has secured the funding it needs to see out its ambitions. We will work alongside the people of Sheffield through consultation to deliver these important changes. “This year alone, through the Connecting Sheffield initiative, we have introduced the Sheaf Valley Cycle route and reintroduced the city centre shuttle bus, Sheffield Connect. We will continue to make progress towards a more sustainable and safer transport network both through the City Region Settlement and the Council’s already ambitious plans. “As England’s fourth-largest city it is crucial we can offer a travel network that residents deserve, and it is more important than ever that the service on offer is sustainable in line with our goal of achieving net zero carbon by 2030.”

Value of UK exports plunges 8% during June

The value of good exported from the UK fell by 8% in June, coming as a damp squib at the end of what had been an otherwise strong quarter, according to the British Chambers of Commerce. William Bain, Head of Trade Policy at the BCC, said: “The 8% fall in goods exports values in June was driven by a range of factors across fuel, chemicals, transport equipment and other manufactured goods, but there are gathering economic headwinds which all UK goods exporters now face. “As well as general economic measures to support growth in the months ahead, this data shows the risks of weakening, instead of stabilising, our trade relations with the EU. “There is now an urgent need for real delivery by the UK Government’s Export Strategy to support the growth ambitions of UK exporting businesses.” Two months of stronger growth in goods exports came to a halt in June as overseas sales fell and the trade deficit widened. April and May had both produced 7.4% month on month rises in UK goods exports but in June there was a fall of 8%. EU goods exports were down by 3.9% (a rise in chemicals exports offset by lower machinery, transport equipment and fuels exports) and non-EU goods exports slumped by 11.9% (across many product categories including miscellaneous manufactured products). The overall trade deficit in goods and services widened by £2bn in Q2 2022 to a record £27.9bn (£22.6bn excluding inflation). Overall, in Q2 goods imports to the UK increased by 8.3% compared with Q1, and goods exports by 12.4%. UK goods export values to the EU rose across the quarter by 16.3% (strengths in fuel re-exports and ships, aircraft and mechanical machinery) and to the rest of the world by 8.6% even taking into account June’s disappointing data. UK goods imports declined by 1.1% in June, driven largely by a 4.1% fall in goods imported from the EU (mainly in chemicals from the pharmaceutical sector) offset by a 2.1% rise in imports from the rest of the world (largely fuel import rises from the US and Norway). Comparing trade performance in Q2 2022 with the same quarter 4 years previously, overall goods exports were 11% higher in Q2 2022, and imports 31% higher.