New prototyping production capability and membership of government manufacturing consortium accelerates readiness of toroidal drive technology for main drive transmissions, variable-drive superchargers and mechanical hybrids
Torotrak (LSE: TRK) has concluded two important additions to its capability that give the company low-to-medium volume manufacturing capacity and allow the production of high quality components for evaluation, prototypes and fleet trials.
Torotrak has signed a collaboration agreement with Tata Steel UK Limited, MIRA Limited and Productiv Limited to join a new, government-backed initiative called the Proving Factory that gives access to shared quality processes, equipment and facilities capable of providing manufacturing capacity of up to 20,000 units per annum. This follows the acquisition of Motorsport Components Limited, announced on February 15th, which brings in-house, high precision prototype engineering capabilities to Torotrak’s Leyland headquarters.
Both developments are directed at accelerating the commercialisation strategy that Torotrak announced in November 2012’s half year results.
“These two announcements are a demonstration of Torotrak moving forward and delivering on the promises made in November”, said Jeremy Deering, chief executive. “By bringing precision prototyping in-house and securing low-volume manufacturing capability, we’re making it easier for original equipment manufacturers and tier one suppliers to engage with our technology”.
The Proving Factory is being developed by a consortium set up to allow UK low-carbon technology companies such as Torotrak to benefit from shared development and manufacturing resources. With funding from the Advanced Manufacturing Supply Chain Initiative, the Proving Factory is led by Productiv, which industrialises automotive technologies with lead partners Tata Steel, MIRA and the Manufacturing Technology Centre (part of the High Value Manufacturing Catapult). Supporters of the project include Jaguar Land Rover and Schaeffler. The enterprise allows Torotrak to use the support and experience of these major UK manufacturers to progress faster from the initial prototype and pilot stage through to volume production.
In joining the initiative, Torotrak gains access to the new component manufacturing facility in Rotherham, South Yorkshire that was officially dedicated today in a visit from Vince Cable, secretary of state for business, innovation and skills, as well as to a new assembly facility that will be based in the West Midlands. The company’s first application for this project will be the innovative “V-Charge” product which uses unique toroidal supercharging technology to facilitate CO2 reduction through downsized engines without any compromise to drivability.
The second development in this latest round of strategic actions is Torotrak’s acquisition of the business and assets of Motorsport Components Limited (“MCL”), based in Bolton, Lancashire. With almost three decades of specialist experience, MCL has been a supplier of precision machined components to Torotrak for many years and in taking ownership, the company has further strengthened its prototyping and low volume manufacturing capability.
“The MCL acquisition does two things for us”, said Deering. “Firstly, it speeds our turnaround of precision components to help shorten lead times on our critical prototype build and test activities. And secondly, it enhances and supports our engineering services business, which we aim to grow materially over the next few years.”
