Manufacturing News – Late July 2024
Estimated reading time 3 minutes
The UK’s manufacturing sector has dropped out of the top 10 world rankings for the first time, falling to 12th, according to the latest official figures available published by Make UK today.
The figures are contained in the latest annual ‘Manufacturing – The Facts’ which contains a wide variety of data about the contribution of manufacturing to the economy including exports, sectoral breakdown, how the UK compares to other nations and salary levels.
The data shows that in 2022 (the latest year for which global comparisons are available) UK manufacturing output was worth $259bn. This is behind Mexico (£316bn) which has climbed to seventh on the back of an already strong manufacturing base but also Chinese investments made in the first Trump Presidency to counter tariffs, while Russia has climbed to eighth place ($287bn) on the back of substantially increased defence production which is now worth 6% of GDP. Both these countries have also leapfrogged Italy ($283bn) and France ($265bn) respectively who have dropped in the world rankings as a result to ninth and tenth respectively. https://uk.finance.yahoo.com/news/uk-growth-set-continue-manufacturing-091624109.html
After an encouraging first quarter, the UK subcontract manufacturing market dropped back sharply in the second quarter of 2024.
The latest Contract Manufacturing Index dropped by 28% compared to the previous quarter – standing at 59 compared to 82 in the previous three months. The index was also 23% down on the equivalent period in 2023. https://www.qimtek.co.uk/news/engineering-capacity/subcontract-market-drops-back
About 100 jobs are at risk at the Northern Ireland operations of manufacturing firm Terex. The United States company makes crushing and screening equipment used in industries like construction and mining.
It said an “extraordinary surge in demand” for its products in the aftermath of the coronavirus pandemic had now “stabilised”.
As a result of this reduced demand, it has started a redundancy consultation and taken other cost cutting measures. This includes including reducing overtime and travel as well as not filling some vacant posts.
Engineering services provider Edwin James Group has bought Pettits and its operating subsidiary Motivair Compressors for an undisclosed sum. The move introduces a new service offering to Edwin James, which has offices across the Midlands in Burton, Swadlincote and Birmingham. Motivair’s turnkey service model covers a wide range of products and includes maintenance, project management, monitoring, and technical support. As specialists in compressed air management, Motivair manages approximately 9,000 assets, serving a customer base across the UK. Its focus spans the industrial, infrastructure, utilities and defence sectors https://www.thebusinessdesk.com/eastmidlands/news/2087879-engineering-group-swoops-for-100-strong-firm?utm_source=newsletter&utm_medium=email&utm_campaign=EastMidlands_18th_Jul_2024_Daily
Administrators have been appointed to a Worcestershire automation firm, bringing more than 35 years of operations to an end. 63 staff were made redundant at QM Systems on Friday (July 19), after the business suffered from significant cashflow pressures. https://www.thebusinessdesk.com/westmidlands/news/2088489-automation-and-robotics-firm-collapses-into-administration?utm_source=newsletter&utm_medium=email&utm_campaign=WestMidlands_22nd_Jul_2024_Daily
Engineering specialist, Sheffield Forgemasters, has submitted a pre-planning application for a major machining facility on brownfield land in Sheffield’s Meadowhall district.
Located on a 16-acre plot at Weedon Street, the 320,000 sq. ft plant will form one of the world’s most advanced large machining facilities, to support the Ministry of Defence-owned company’s manufacture for the UK defence programme. https://www.thebusinessdesk.com/yorkshire/news/2127053-plans-unveiled-for-landmark-advanced-machining-facility?utm_source=newsletter&utm_medium=email&utm_campaign=Yorkshire_23rd_Jul_2024_Daily
