EDITORIAL ROUNDUP

Hurco bucks the trend with record sales

Against a backdrop of difficult trading conditions in the UK machine tool industry, Hurco Europe’s turnover to the end of its financial year in November 2023 was surprising. It turned out to be a record year for sales, higher than the best previous figure, achieved in 2018.Managing director David Waghorn says: “We delivered a few more lathes than last year and, while the number of machining centres we sold did not increase, their unit price was significantly higher.”

There was also an increase in large machine sales, which increases the value per sale, while many negotiations included requests for extras like mist extraction, through-spindle coolant, probing and longer warranties. Notably, the addition of a collaborative robot raised the value of some orders:the number delivered was two and a half times up on the previous year.
For further information www.hurco.co.uk

Renewable electricity for Renishaw UK

To further help meet its ambition of achievingnet zero by 2050, Renishaw has signed a two-year contact with the world’s first green energy company, Ecotricity, which will now supply the company’s main UK sites with 100% renewable electricity.As part of its ambitious climate transition plan, Renishaw aims to reduce emissions relating to its business activities and purchased energy – Scopes 1 and 2 – to net zero by 2028.

Renishaw’s partnership with Ecotricity is the latest move towards exclusively using green energy across the world, with company sites in India, Japan, Mexico and the US among those already running on 100% renewable electricity. The global businessself-generates 11% of its electricity consumption and most of the electricity itacquires is certified renewable.By the end of 2024, 100% of what Renishaw purchases globally will meet its sustainability requirements.
For further information www.renishaw.com

Review published on STEM clubs

EngineeringUK has released a new report which brings together the available evidence on STEM (science, technology, engineering and maths) clubs and their ability to increase students’ aspirations for engineering and technology careers.Through summarising the existing evidence, the report aims to draw out learnings on STEM clubs that is usable by STEM outreach providers to raise aspirations around engineering and technology careers. EngineeringUK hopes the learnings in its report will support efforts to increase the number of young people entering the engineering and technology workforce.
For further information www.bit.ly/46UYGnF

£370m loan for Seaway7

The UK’s export credit agency has issued a loan guarantee that allowsoffshore wind specialist Seaway7 to secure a £370m loan to scale up its UK operations.UK Export Finance (UKEF) issued the guarantee under its Export Development Guarantee (EDG) scheme, which covers 80% of the total loan.UKEF’s backing is expected to help the firm win and service EPCI (engineering, procurement construction and installation) contracts for fixed offshore wind projects which will generate UK export revenue. Seaway7 has completed successful offshore wind projects in a range of markets, including Taiwan, the US and mainland Europe.
For further information www.gov.uk

Major casting award for William Cook

Sheffield-headquartered William Cook Holdings, a supplier of safety-critical steel components, beat off the challenge of the other finalists to secure the ‘Company of the Year’ title at the recent UK Cast Metals Industry Awards. William Cook impressed judges with landmark rail contract wins, support for the war effort in Ukraine and a £5m investment programme that reinforces its position in the nuclear power supply chain.The group also protected vital foundry skills when it saved 75 jobs by acquiring HI Quality Steel Castings of Chesterfield out of administration.

Organised by the Cast Metals Federation (CMF), there were also major accolades for Tamworth-based Foseco (Innovation) and Sylatech, which claimed the Component of the Year Award.The latter was for work in producing a prosthetic aluminium thumb for use by children.
For further information www.castmetalsfederation.com