EDITORIAL ROUNDUP

Growth Guarantee Scheme introduced

Compass Business Finance has been accredited to deliver funding supported by the Growth Guarantee Scheme (GGS), via the British Business Bank, thus creating further access to finance that will help smaller UK businesses invest and grow. Launched as a successor to the Recovery Loan Scheme, an important new development is the addition of asset-based lending and invoice finance to the range of supported facilities. The GGS is a government-backed loan scheme that enables lenders to provide finance where they may not otherwise have done so, or to extend better-than-standard terms on business financing options.

More information www.compassbusinessfinance.co.uk

Decent year for tooling specialist

Cutting tool manufacturer Mapal was able to increase its group turnover in the 2023
financial year. At €588m, this represents an increase of 5.5% year-on-year. Dr Jochen Kress,
president of the Mapal Group, considers this a validation: “The fact that we were able to
achieve our planned growth despite considerable economic fluctuations over the course of
the year makes us optimistic that we have charted the correct course”.
The company expects turnover to stagnate overall in 2024. “The economy grew slower than
expected in the first half of the year,” says Kress. “However, there are more signs that the
second half will be more positive, which is reflected in our forecasts. We are now
concentrating on remaining in line with these despite the economic challenges.”
More information www.mapal.com

Record submissions for ADIPEC Conference

The ADIPEC 2024 Technical Conference has received a record 5977 submissions, a 16%
increase over last year, with major submission growth seen in categories such as AI/digital
transformation and energy transition/decarbonisation. There is also an increased level of
submissions from African and Arab states.


The Technical Conference is a key part of ADIPEC, the world’s largest energy event, which
takes place in Abu Dhabi on 4-7 November 2024. This year, the conference will feature 159
sessions across 12 categories, for which energy experts and engineers from around the
world submit their work for consideration as a presentation. The ADIPEC Technical
Conference is renowned for bringing together the brightest minds and technical experts
from across the energy value chain.
More information www.adipec.com

Sustainability at ASG

ASG Group, the Stockport-based aerospace conglomerate, is making significant strides in decarbonising aerospace manufacturing. With a long-term vision for sustainability, the company is spearheading initiatives across its subsidiaries, including ASG Produmax in Bradford, Bromborough-based ASG AMF and ASG King & Fowler in Liverpool. Group managing director Simon Weston says: “From partnering with local councils to investing in renewable energy and innovative processes, we are dedicated to reducing our environmental impact and leading the industry towards a sustainable future.”

More information www.asg-group.co

Huge Grob showcase

Grob-Werke will be showcasing a vast product range at the forthcoming AMB 2024 exhibition in Stuttgart (10-14 September). For instance, visitors to stand B12 in hall 10 can look forward to seeing the company’sG350 five-axis universal machining centre in combination with the Grob GRC-R60 robot cell and G550T five-axis mill-turn centre.Moreover, the Grob G920F5 machining centre for mega and giga machining operations will be present at an exhibitionfor the first time. 3D printing enthusiasts can also look forward to the presentation of the Grob GMP300metal printing machine.

More information www.grobgroup.com