Global engineering company Renishaw was honored with the Grant Thornton Mid-Cap Business of the Year award for FTSE-listed businesses at the U.K.'s National Business Awards, held November 8 in London. Nominated with nine other high-performing businesses and mutuals with a turnover of less than $800 million, Renishaw was cited for exporting British designed and manufactured products to over 30 countries, while attracting more graduates into manufacturing at the same time. The judges described Renishaw as "an irreplaceable business" for its development of innovative products that significantly advance its customers' operating performance. In accepting the award, Ben Taylor, Renishaw's assistant chief executive, noted the company manufactures all of its components, and assembles all its circuit boards, in the U.K., and exports more that 95 percent of its turnover. He added: "We are delighted to win this award and it is recognition that manufacturing is alive and well. It not only makes a positive contribution to the economy, but it also offers very rewarding careers, and we believe that more young people should look at apprenticeship and graduate opportunities within the manufacturing sector."
Grant Thornton CEO Scott Barnes said: "Renishaw is a great example of the U.K.'s impressive mid-market businesses. Bucking recent economic trends with strong growth, impressive export statistics and providing jobs and training, Renishaw and all the finalists are the companies that we see driving our economy. Congratulations to the team at Renishaw for exemplifying great British business."
The award is judged such that "The ultimate winner will be held up as an example of excellent practice and an inspiration to all listed companies or mutuals in the mid-cap range, with judges considering past achievement, current performance and future potential." The ceremony was attended by over 1,100 top U.K. business leaders and entrepreneurs.