Empowering growth with cutting-edge machinery
MTD Audiobook
NDT Equipment Limited, a valued customer of Close Brothers Asset Finance, has secured finance to upgrade its machinery and handle an increasing workload. Customer background Founded in early 2022 by Daniel Lenton and Katie Loydall, NDT Equipment Limited specialises in manufacturing fully traceable ultrasonic calibration blocks. These blocks ensure the accuracy and reliability of ultrasonic flaw detection equipment and are essential for identifying flaws in metals, composites, and other engineering materials. They serve a wide range of industries, including oil and gas, nuclear, aerospace,...
info_outline
Paris mood reflects defence sector spending spree
MTD Audiobook
With civil aerospace primes targeting production rates of 75 per month by 2027, and NATO members increasing defence spending to over 2.5% of GDP, business is brisk in the aircraft and defence sectors. The Paris Air Show in June showcased several UK companies that are investing during strong business conditions, says Will Stirling. Bathed in blazing sunshine, Paris Le Bourget Airport hosted the 55th Paris International Air Show from 16 to 22 June. A large UK pavilion featuring over 50 exhibitors joined thousands more. Aerospace is on the rise – the aerospace, defence, security, and space...
info_outline
Innovating for aerospace manufacturing
MTD Audiobook
The aerospace industry stands at the intersection of extreme technological demands and cost-efficiency requirements. With aircraft manufacturers like Airbus and Boeing projecting the production of 42,500 new jets over the next 20 years, the need for precision machine tools and cutting tools has never been more critical. Aircraft construction is an intricate process that involves a complex array of materials, each presenting unique machining challenges. Aluminium alloys dominate the industry, comprising approximately 60% of aircraft components, while titanium and advanced composites...
info_outline
Machining with CBN and PCD inserts
MTD Audiobook
In the realm of modern manufacturing, precision and efficiency are paramount. ISCAR consistently pushes the boundaries of innovation with its Polycrystalline Diamond (PCD) and Cubic Boron Nitride (CBN) tools. These advanced materials are transforming how industries approach machining to provide significant advantages. PCD tools are renowned for their hardness and wear resistance, making them perfect for machining non-ferrous metals, composites, and abrasive materials. ISCAR’s PCD tools are designed to provide precision and superior surface finishes, essential in industries such as...
info_outline
CERATIZIT’s advanced milling solutions
MTD Audiobook
The machining of advanced materials presents challenges that demand specialised tooling solutions. CERATIZIT has now developed two milling systems that meet the specific requirements of difficult-to-machine materials: the MonsterMill ISO-S for nickel-based alloys and titanium, and the MaxiMill S-Power for cast iron applications. A Monster That Conquers Nickel-Based Alloys The machining of nickel-based alloys such as Inconel, Hastelloy, and Waspaloy present significant challenges. CERATIZIT’s redesigned MonsterMill ISO-S range addresses these challenges through a carefully engineered...
info_outline
Machining strategies for aerospace milling
MTD Audiobook
Machining aerospace alloys presents challenges to tool performance. A comprehensive strategy is essential to achieve optimal performance while avoiding process-limiting issues. These alloys are ideal for high-stress components due to their strength and heat resistance. However, their poor machinability stems from high strength and low thermal conductivity. Effective strategies encompass optimising cutting parameters, utilising advanced tool materials and coatings, and employing efficient cooling and lubrication techniques. Implementing precise toolpaths and chip evacuation can...
info_outline
Ceramics optimise aerospace machining
MTD Audiobook
As nickel-based alloy parts become increasingly prevalent in the aero sector, the demand for optimised cutting tools grows. Nickel-based materials exhibit poor machinability, adhere to cutting tools, and consist of abrasive particles within the alloy. These issues result in poor productivity when using carbide tools. Henri Sevonen, Senior Industry Segment Manager – Aerospace for metal cutting specialist Sandvik Coromant, explains how new ceramic end mill technology has emerged to meet these requirements. Most aerospace parts are made from heat-resistant super alloys (HRSAs) and...
info_outline
Complete machining alleviates the shortage of skilled labour
MTD Audiobook
With skilled labour in short supply everywhere, it is becoming increasingly difficult to maintain or enhance productivity in metal-cutting production without complete automation. Companies will gain a competitive edge if they pay greater attention to the customer’s perspective during these ongoing labour constraints and contemplate comprehensive machining solutions. The pressure in metal-cutting production is gradually intensifying due to a decreasing number of qualified individuals in the labour market. The labour situation is likely to deteriorate as the current skilled workforce...
info_outline
Vertical integration powers next-day precision tooling
MTD Audiobook
In an industry where precision and timely delivery are paramount, Guhring UK stands out as a manufacturing powerhouse. The company’s Birmingham facility exemplifies a vertically integrated approach to cutting tool production that sets new standards for service, quality, and responsiveness in the precision cutting tool sector. “We’re very proud of the facility,” explains Chris Bush, National Sales Manager of Guhring UK. “We’ve got Guhring-made machines to make our Guhring tools – this ensures quality, consistency and complete process control.” This single-site integration...
info_outline
Hexagon advances digital manufacturing with AI-powered solutions
MTD Audiobook
The future of manufacturing is increasingly digital, collaborative, and intelligent. This was the clear message at Hexagon’s recent ‘The Future of Shop Floor’ event, held in partnership with Mills CNC at their Technology Campus. The event demonstrated how artificial intelligence, cloud-based platforms, and data-driven insights transform traditional manufacturing operations, resulting in measurable improvements in productivity and profitability. Opening the event by introducing Nexus, the company’s cloud-based platform designed to tackle the collaboration crisis in...
info_outlineIn today’s business environment, understanding and leveraging government loan schemes can be a game-changer for many firms.
Recent data from Close Brothers Asset Finance’s independent research sheds light on how businesses perceive and use these schemes, including the Recovery Loan Scheme (RLS) and the Growth Guarantee Scheme (GGS).
l 53% of SMEs know how to use government loan programmes
l 48% find the application process challenging
l 1 in 3 businesses would use these loans to purchase assets or improve cash
Awareness and understanding
A significant portion of businesses are aware of these government loan programs. According to the data, 58% of respondents have heard about the RLS and GGS. However, understanding how these schemes can be applied to their businesses is slightly lower, with 53% indicating they know how to use them.
Application process
When it comes to the application process, 58% of businesses understand how to apply for these loans, but despite this, nearly half of the respondents (48%) find the application process challenging.
Utilisation of loans
Businesses have diverse plans for utilising government-backed loans. The most common uses include purchasing assets (17%), improving cash flow (16%), and investing in sustainable initiatives such as solar panels and wind power (13%). Other notable uses include training existing staff (12%) and hiring more staff (11%).
British Business Bank loan schemes
Growth Guarantee Scheme (GGS): Supports UK smaller businesses with loans up to £2 million. It offers term loans, overdrafts, asset finance, invoice finance, and asset-based lending and it provides a 70% government-backed guarantee.
Recovery Loan Scheme (RLS): Provided loans up to £2 million for UK businesses to support investment and growth. This included term loans, overdrafts, asset finance, and invoice finance.
Coronavirus Business Interruption Loan Scheme (CBILS): Provided up to £5 million in financial support to UK businesses affected by COVID-19. It included term loans, overdrafts, invoice finance, and asset finance. The CBILS offered a government-backed guarantee to lenders, encouraging more lending.
Bounce Back Loan Scheme (BBLS): Provided loans between £2,000 and £50,000 to UK small and medium-sized businesses affected by COVID-19. BBLS offered a 100% government guarantee, a fixed 2.5% interest rate, and no repayments for the first year.
For more information please visit: