Powertrain merger

The Gehring Group and CopperING Group have united their global product portfolio and established themselves as a supplier for production systems in both the conventional and electrified powertrain segments.

Gehring, as a global automotive supplier with more than 90 years of experience, is said to be the technology leader for honing cylinders in combustion engines. CopperING, with locations in Wernigerode (Germany) and Nuvolera (Italy), has extensive experience as a manufacturer of production technology in the field of electrical powertrains.
For further information www.gehring.de

MBO deal

Mid-market private equity investor LDC has backed the £22.5m MBO of Precision Micro Ltd, a photo-chemical etching company, from global aerospace, defence and energy group Meggitt PLC.

As part of the deal, LDC, the private equity arm of Lloyds Banking Group, has invested £13m of equity for a significant stake in the company, supporting a management team led by current managing director Ian McMurray. Operating from its plant in Erdington, Birmingham, Precision Micro manufactures more than 50 million precision metal components each year for global customers across multiple markets.
For further information www.precisionmicro.com

DMG Mori announces record figures

DMG Mori has released record Q1 figures in order intake, sales revenues, earnings and free cash flow.

Order intake rose in the first quarter by 18% to €821.8m (previous year: €693.9m). Thus, for the first time, orders in a quarter were more than €800m. Sales revenues of €581.8m were 9% above the previous year (€533.9m), while EBIT rose by 20% to €41m (previous year: €34.3m). In addition to the good results of operations, the financial position also developed positively: free cash flow improved by €130.6m to €13m (+111%; previous year: €-117.6m). For the first time in the company’s 148-year history, free cash flow is already positive in the first quarter.
For further information www.dmgmori.com

Charity climb raises over £2500

Leicestershire-based sheet-metal manufacturer JC Metalworks has raised over £2500 for Rainbows Hospice for Children and Young People by trekking Snowdon.

The team of 22 from JC included employees, directors, partners, subcontractors and even family, friends and children. Nick Oakland, managing director of JC Metalworks says: “Everyone completed the challenge and we were blessed with truly beautiful weather, with Snowdon even letting us take advantage of the fabulous views at the top.” It took the team about 4 hours to get up and 2 hours to get down. For those wanting to sponsor JC Metalworks please visit the web address below.
For further information www.justgiving.com/company/jcmetalworks

Demonstrating potential for productivity

More than 200 visitors from around the world are expected to visit this year’s Turbine Technology Days at Starrag’s headquarters in Switzerland on 19-20 June, when Starrag and Haimer will be presenting a host of developments for increased efficiency and reliability in turbine production.

A number of demonstrations will be presented, including a new machine for blisk production; the machining of stator segments in one set-up rather than four; how adaptive machining strategies eliminate ‘air cuts’; and tool shrinking, balancing and pre-setting technology integrated into an Industry 4.0 environment.
The keynote speaker Dr Francesco Parisi, general manager of Italian turbine manufacturer Pietro Rosa TBM, will provide an insight into the company’s production activities. Starrag’s Turbine Technology Days are also supported by specialist partners, and there will be the opportunity to visit Haimer to see production processes at its plant in Bavaria. UK aerospace professionals interested in attending the event should email the contact below.
For further information lee.scott@starrag.com