Renishaw plc
{{short description|British engineering company}}
{{Use dmy dates|date=April 2022}}
{{Infobox company
| name = Renishaw plc
| logo = Renishaw logo.svg
| type = Public
| traded_as = {{ubl|{{lse|RSW}}|FTSE 250 component}}
| foundation = 1973
| founders = Sir David McMurtry
John Deer
| location = Wotton-under-Edge, England
| key_people = John Deer
{{small|(Deputy Chairman)}}
Will Lee
{{small|(Chief Executive)}}
| industry = Engineering
| products =
| revenue = {{increase}} £691.3 million (2024){{cite web|url=https://www.renishaw.com/media/pdf/en/203ba5a174064df7842fcd3bc7cfa349.pdf|title=Results for the year ended 30 June 2024|publisher=Renishaw|access-date=10 February 2025}}
| operating_income = {{decrease}} £108.7 million (2024)
| net_income = {{decrease}} £96.9 million (2024)
| num_employees = 5,213 (2023)
| parent =
| subsid =
| homepage = {{URL|www.renishaw.com}}
| footnotes =
}}
Renishaw plc is a British engineering company based in Wotton-under-Edge, England. The company's products include coordinate-measuring machines and machine tool products. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
History
The company was founded by Sir David McMurtry and John Deer in 1973.{{cite web|url=http://www.renishaw.com/en/6432.aspx|title=About Renishaw|author=Renishaw plc|work=renishaw.com|access-date=3 April 2015}} McMurtry had needed to measure fuel pipes on a prototype jet engine: at the time, coordinate-measuring machine sensors featured rigid styli, which required manual positioning on the surface and which yielded poor repeatability when measuring delicate components. To meet this need, McMurtry invented a touch-trigger probe device, which he then patented. The probe featured an elegant 'kinematic' location for a spring-loaded stylus, providing a highly repeatable seated position for the stylus combined with the compliance needed to measure such components.
Renishaw floated on the Unlisted Securities Market in 1983,{{cite web |url=https://www.renishaw.com/en/our-history--32458 |title=Our History|publisher=Renishaw|access-date=4 October 2023}} and gained a full listing on the London Stock Exchange in November 1984.{{cite web|url=http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/GB0007323586GBGBXSTMM.html?lang=en|title=Renishaw plc|publisher=London Stock Exchange|access-date=10 April 2016}} In 2006 the Company bought 'itp', a German manufacturer of precision styli.[http://www.manufacturingtalk.com/news/rea/rea291.html UK metrology firm buys precision styli maker] {{webarchive|url=https://web.archive.org/web/20080513084501/http://www.manufacturingtalk.com/news/rea/rea291.html |date=2008-05-13 }} Manufacturing Talk, 19 June 2006 In early 2009 the global recession reached Renishaw, resulting in a large proportion of the workforce being placed "at risk".[https://www.theguardian.com/business/2009/mar/11/renishaw-cuts-500-jobs Engineering firm Renishaw cuts 500 jobs] Guardian, 11 March 2009
In 2010 Renishaw bought a stake (and subsequently took complete control) of Measuring Devices Ltd, a company providing a range of services in the field of surveying equipment.{{cite web|url=http://www.laserscanning.org.uk/forum/viewtopic.php?f=19&t=2728|archive-url=https://archive.today/20121224010735/http://www.laserscanning.org.uk/forum/viewtopic.php?f=19&t=2728|url-status=dead|archive-date=24 December 2012|title=Laser Scanning Forum Ltd • View topic - Measurement Devices Ltd (MDL)|work=laserscanning.org.uk|access-date=3 April 2015}} In 2011 Renishaw purchased the 400,000 sq ft Bosch plant in Miskin, Wales.[http://www.walesonline.co.uk/business-in-wales/business-news/2012/05/16/renishaw-completes-bosch-factory-refurbishment-91466-30976374/ Renishaw completes Bosch factory refurbishment] Wales on line, 16 May 2012
Operations
The company's product portfolio includes touch probes for CNC machine tools, calibration systems that optimise the performance of CNC machinery, linear encoder systems, rotary encoder systems, additive manufacturing machines, dental CAD/CAM systems, Raman spectroscopy and medical devices for functional neurosurgery applications.{{cite web|url=http://www.southwestbusiness.co.uk/news/09042015073237-brain-surgeons-work-with-latest-in-robotics-courtesy-of-gloucestershire-engineering-business-renishaw/|title=Brain surgeons work with latest in robotics courtesy of Gloucestershire engineering business Renishaw|publisher=South West Business|access-date=10 April 2016}}
Locations
Renishaw's main offices are situated in Gloucestershire in an old watermill, with several new buildings on a {{convert|26|acre|m2|adj=on}} site. The company has a machine shop located at Stonehouse, Gloucestershire, and an assembly facility at Woodchester, both near Stroud. There are further assembly facilities in Dublin (Ireland) and Pune (India). Renishaw also has research facilities located in Wotton-under-Edge, Edinburgh and Ljubljana.{{cite web|url=http://www.southwestbusiness.co.uk/sectors/engineering-and-aerospace/07072015105323-slovenian-research-facility-opened-by-gloucestershire-engineering-business-renishaw/|title=Slovenian research facility opened by Gloucestershire engineering business Renishaw|publisher=South West Business|access-date=10 April 2016}}
Sale of Renishaw
On 2 March 2021, David McMurtry and John Deer indicated that they wished to dispose of their entire holdings in Renishaw, comprising some 53% of the shares, as 'we recognise that neither of us is getting any younger'. The Renishaw board then announced that it was launching a formal sale process for the entire company.{{cite web |url=https://www.proactiveinvestors.co.uk/LON:RSW/Renishaw-PLC/rns/941380 |title=Renishaw PLC - Commencement of formal sale process |access-date=16 March 2021}} This process was terminated on 7 July 2021, the board concluding that none of the proposals met their objectives.{{Cite web |date=2021-07-07 |title=Investegate {{!}}Renishaw PLC Announcements {{!}} Renishaw PLC: Update on Formal Sale Process & Current Trading |url=https://www.investegate.co.uk/renishaw-plc--rsw-/rns/update-on-formal-sale-process---current-trading/202107070700033726E/ |archive-url=https://web.archive.org/web/20210725081917/https://www.investegate.co.uk/renishaw-plc--rsw-/rns/update-on-formal-sale-process---current-trading/202107070700033726E/ |archive-date=2021-07-25 |access-date=2021-07-25 |website=www.investegate.co.uk}}
References
{{reflist|30em}}
External links
- [https://www.renishaw.com Official site]
{{FTSE 250 Index constituents}}
{{Authority control}}
Category:Engineering companies of the United Kingdom
Category:Companies listed on the London Stock Exchange
Category:Companies based in Stroud, Gloucestershire
Category:Technology companies established in 1973