Metrology Company

Renishaw is a metrology company which manufactures products in Britain, providing services to science and technology. The company deals with niche markets with their principal activity “the design, manufacture and sale of advanced precision metrology and inspection on equipment, computer aided design and manufacturing systems”. Turnover of £180,883,000 was reported at the year ending 30 June 2007 which was 3 per cent up on the turnover in the year ending 2006 at £175,835,000. The first company was established in 1973 with a product developed to solve specific inspection requirements for the Olympus engines used on Concorde. Currently trading on the London Stock Exchange Renishaw is listed on the FTSE 250 in the electronic and electrical equipment sector. Their mission is to “design, manufacture and supply metrology systems of the highest quality and reliability to enhance customers worldwide to carry out dimensional measurements to traceable standards”. The Times (2005) defines Renishaw Plc as, a “world-class, engineering and market leader” company.

There are five major shareholders who together account for 50.9 per cent of the total shares in issue. The Chairman who is also the Chief Executive holds 26,376,469 of the shares and the finance director who is also the company secretary has a holding of 5, 165 shares. In total there are five directors to the company. In terms of employment; 2,154 people are employed by the group in the UK and overseas. Of these employees, over 1,200 of them are based at the headquarters in Gloucestershire and the remainder are in more than 30 countries.

Manufacturing is based in Britain and Ireland where the products are then exported. With their own manufacturing the company is vertical integrated. The company’s marketing and distribution is then carried out overseas with sales outside of the UK accounting for 93 per cent of total group sales. Being an international company, Renishaw has many subsidiaries.