THIS WEEK’S HIGHLIGHTS

SpeedFlex secures £650k finance deal

Independent SME lender Time Finance has provided a specialist £650,000 asset-based lending facility to Midlands-based engineering company, SpeedFlex, helping to support its future growth plans. The multi-product solution consisted of a £250,000 confidential invoice finance facility and a £400,000 asset finance facility, allowing the business to invest in its operations and prioritise expansion.


Based in Stourport-on-Severn, SpeedFlex Engineering specialises in the production of components for the aerospace, automotive and gas turbine industries, all of which are integral to the UK’s economy. Having achieved a growth in turnover from £500,000 to £1.6m, the business required a funding boost to help fulfil its ongoing growth strategy.

More information www.timefinance.com

R&D facility for Renishaw and IDEKO

Metrology company Renishaw and the research centre IDEKO have inaugurated a new Renishaw Solutions Centre in Elgoibar (Gipuzkoa), Spain. The new R&D facility aims to develop innovative solutions for the advanced manufacturing sector. Located on the premises of the Basque Research and Technology Alliance (BRTA) member centre, the laboratory forms part of the collaboration agreement signed last year.

A long-term partnership agreement between the two organisations marks the beginning of a partnership that also involves Danobatgroup, a major industrial group in the field of machine tools. The Solutions Centre drives innovation for this group, while Renishaw has been a long-term technology supplier across several of its product lines.

More information www.renishaw.com

Mikron Group reports modest growth

The Mikron Group – which specialises in automation solutions, machining systems and cutting tools – is reporting preliminary and unaudited net sales of CHF374.1m for 2024, an increase of 1% compared with the previous year. The group’s automation business contributed CHF 233.3m, an increase of 0.9%, with strong growth in Europe offset by a decline in America. Mikron Group’s machining solutions business increased net sales by 1.2% to CHF 140.8m, which the company says is a good result given the difficult market conditions, particularly in Europe.

More information www.mikron.com

JCB Students Visit Carfulan Group

The Carfulan Group recently welcomed 30 enthusiastic engineering students from the JCB
Academy to its Advanced Innovation Centre, offering them an opportunity to interact with
the company’s latest technologies. The visit provided an immersive, hands-on experience
with machines from across the group’s divisions, giving students an insight into the modern
world of engineering and manufacturing.
The day was structured to provide maximum learning value via interactive demonstrations
and practical sessions. By fostering close ties with educational institutions like the JCB
Academy, Carfulan Group ensures that young engineers are well-equipped with the skills
and knowledge necessary to succeed in a fast-evolving industry.
More information www.carfulan.com/careers

Precision Micro wins powertrain contract

Precision Micro, a global provider of chemically etched components, has successfully
secured a series production contract with a renowned German multinational engineering
and technology company. The company has been chosen as the exclusive supplier for a
function- and safety-critical component used in the hydrogen recirculation blower of next-
generation fuel cell/electric vehicle powertrains.
Precision Micro’s etching process will produce the component, which facilitates the
recirculation of unused hydrogen in a fuel cell system. The component requires chemical
etching to achieve stringent customer requirements for flatness, cleanliness and tight
tolerances, making it the only viable production method.
More information www.precisionmicro.com.