EDITORIAL ROUNDUP

MBO at Alloy Wire signals investment drive

A UK manufacturer of round, flat and profile wire has completed a management buy-out (MBO) as it looks to target £15m annual sales for the first time in its 77-year history.Alloy Wire International (AWI)’s senior management team, comprising managing director Tom Mander, technical director Andrew Du Plessis and finance director Adam Shaw, has purchased the business from the current owners. The trio have also pressed the button on a near £1m investment drive that will see new wet-drawing and single-hole dry-drawing machines arrive during the course of the year, along with an annealing line spooler.
For further information www.alloywire.com

Okuma announces green credentials

Since October 2022, production at Okuma’s three main machine tool factories in Japan has used only carbon-neutrally generated electricity, a goal achieved earlier than expected. The firm’s machining centres, CNC lathes and grinders are available in the UK and Ireland through sole agent NCMT.

Okuma also says that, from April this year, it will be labelling certain of its products ‘Green-Smart Machines’ if they are able to cut energy consumption considerably. These machines reducepower usage thanks to a trio of advanced technologies: the Thermo-Friendly Concept, whichnegates the need for a warm-up period; ECO Suite plus, which provides autonomous energy saving by monitoring spindle temperature and the pump; and systems for spindle cooling, which Okuma says reduce energy consumption by as much as 68% due to optimised control.
For further information www.ncmt.co.uk

Sheffield Forgemasters partners WaldrichSiegen

Sheffield Forgemasters has signed a long-term partnership with machine tool supplier WaldrichSiegen for the lifetime support of its proposed new machining facility. WaldrichSiegen will deliver a 10-year, through-life and production-support contract, plus the design, manufacture, installation and commissioning of 17 new machine tools to create highly accurate, complex machined shapes from ultra-large steel castings and forgings. McDowell Machine Tools represents WaldrichSiegen in the UK.

The machining line will sit in a proposed new building at the company’s Brightside Lane site, and includes a series of large-scale, five-axis vertical turning lathes that form part of a recapitalisation investment of up to £400m over 10 years. Scheduled for delivery between 2025 and 2028, the machine line-up comprises: seven heavy-duty VTLs with 5-8 m tables; three gantry mills with 6-16 m turning capability; three RAM hydrostatic boring mills; three heavy-duty horizontal lathes with 24-27 m beds; and one gantry bandsaw.
For further information www.sheffieldforgemasters.com

Prova buys stake in Composite Braiding

Prova Investments continues to grow its European portfolio of early-stage businesses operating at the forefront of cleantechnology, sustainability and the circular economy by taking an equity stake in Composite Braiding.Based in Derby, Composite Braiding produces advanced composites by combining materials such as carbon, glass, aramid and basalt fibres with thermoplastics. Using an award-winning automated manufacturing process, it is possible to braid components quickly and at scale, reducing labour costs by 90%, waste by 97% and energy consumption by 95%.
For further information www.compositebraiding.com

British Steel invests £330m

British Steel’s new billet caster, which is among £330m worth of investments that parent company Jingye has made in the UK business since acquiring it three years ago, is duefor commissioning this spring.The new caster will manufacture semi-finished steel billets with enhanced internal and surface qualities. This £54m project is the largest single investment by Jingye. British Steel’s investment strategy aligns to its decarbonisation plans, which will see it embrace new technology and ways of working to help reduce emissions and support clean growth.
For further information www.britishsteel.co.uk