.

120 jobs at risk as Renishaw's Stone site to close

Image: Google Street View

A site in Stone is set to close by the end of the year, putting 120 jobs at risk.

Global engineering technologies company, Renishaw, is 'evaluating a potential reorganisation of its additive manufacturing (AM) business' by co-moving activities at its New Mills headquarters site in Gloucestershire, UK.

The manufacturing of AM systems will continue at the company’s Miskin site near Cardiff, South Wales.

The firm has today started a consultation process with 120 affected employees at the Stone site.

If the decision to close the Stone site is confirmed, it is hoped that the level of redundancies would be reduced by a number of the affected employees taking up new positions in Gloucestershire.

These employees would be supported with relocation packages.

William Lee, Renishaw’s Chief Executive, said: "We have invested heavily in all aspects of AM system design and are very pleased with the market adoption of the RenAM 500Q multi-laser machine.

“We have exciting plans for future systems that will further boost the adoption of AM for series production, but in a competitive global business we need to be agile and efficient in how we bring these new technologies to market.

“Our current thinking is that the most effective way to achieve this would be for our AM technical and commercial teams to be co-located in our Gloucestershire facilities.

"The AM team at the Stone site has made a major contribution to our progress and we sincerely hope that a large number of them would relocate to our headquarters site if the closure goes ahead.”

More from Local