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Printed in UK by: Pensord Press
ISSN: 0953-9204
Online ISSN: 2049-3320 © MA Business 2021
Engineering giant Renishaw put up for sale by owners
Renishaw was founded in 1973
by founders Sir David McMurty and John Deer
enable the company to continue to
prosper in the long-term.”
Sir David McMurtry and John
Deer, said with the board, they are
focused on ensuring that the right
owner is found for the business
and one who “respects” and will
continue to nurture the important
attributes that Renishaw has been
founded on.
New report nds
skills shortage
Renishaw founders Sir David
McMurtry and John Deer have
indicated to the rm’s board their
intention to sell their substantial
shareholdings in the engineering
and scienti c technology company.
In reaction to the news,
Renishaw’s shares rose and it was
valued by the stockmarket at around
£4.8bn – valuing the founders’ 53%
stake at £2.5bn.
Sir David McMurtry is executive
chairman and John Deer is nonexecutive
deputy chairman. The pair
founded Renishaw in 1973 in
Gloucester’s Wotton-under-Edge,
and had met at Rolls Royce.
In a statement, the company
said: “The board has considered
various options with its advisers. In
considering these options the
board, including the founders, has
had regard to the interests of all the
company’s stakeholders.
“The board has unanimously
concluded that it would be
appropriate to investigate the sale
of the company and is therefore
launching a formal sale process for
the company.
“The board intends to seek a
buyer who will respect the unique
heritage and culture of the
business, its commitment to the
local communities in which its
operations are based, and who will
New research into the extent of
the skills shortage has found
engineering and manufacturing
businesses are the worst
affected with 85% surveyed
currently feeling the strain from a
lack of skilled workers.
The report, by Search
Consultancy, added that on
average, businesses are 18%
understaffed with the average
lead time to hire a suitable
candidate standing at just below
four months.
Of the rms surveyed, 40%
said that a simple lack of
quali ed candidates is the main
contributing factor to the skills
shortage. A further third cited a
lack of willing apprentices and
29% list an aging workforce as a
cause for concern.
New welding
opportunities created
Hitachi Rail’s investment at its
County Durham factory – which now
totals £110m – sees new facilities
completed, allowing welding and
painting to start on brand new UK
passenger trains.
New welding and painting
facilities will be used to build the
next generation of intercity trains for
East Midlands Railway and Avanti
West Coast. Around 40 staff and
newly graduated welders and
painters will be completing the hightech
aluminium carriage shells,
which are a signature of Hitachi’s
intercity eets.
The North East train builder has
invested £8.5m to create bespoke
welding and painting facilities within
the factory. Hitachi Rail said this onshoring
of high value aspects of the
manufacturing process is further
evidence of its long-term
commitment to the region. It is also
the rst time in decades that a new
train welding facility has been
created in the UK, with over 230
carriages due to be welded at
Newton Aycliffe.
The investment has also involved
an upskilling programme for staff
and apprentices. This new training
has created a new skills-base that
will bene t the workforce and the
factory for all projects.
Hitachi Rail has focused on
localising its supply chain in the UK
and new manufacturing capabilities
is allowing it to expand its UK supply
chain. New domestic suppliers
include AES in Glasgow, Airblast in
Peterborough and KM Tools in
Stoke-on-Trent. The expansion in
Newton Aycliffe has grown
relationships with Dyer Engineering
and Hydram Engineering.
4 March 2021, issue 2 - Machinery Classifi ed
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