The 5 Axis CNC mould making facility will enable access for small businesses to state of the art facilities, at the times when they need it. This will aid rapid product development and improve cost effectiveness by sharing the capital and overhead costs with other companies.

Marine South East has prepared a prospectus for the project and has already held meetings with key companies interested in investing in the machine. Potential investors have discussed the size and type of machine they would require and the level of investment needed.

‘This is vital in helping smaller companies develop products on a level footing with larger organisations,’ said Jonathan Williams, MSE chief executive. ‘Although we haven’t yet chosen a location for the site there are a few possibilities in the Solent area.’

We have undertaken considerable research on the time and cost savings for companies where the 5-axis machine is used, said Williams. He added research around the world indicated lead times could be reduced by as much as 50%.

‘With initial funding, we are confident that we can put in place a self sufficient enterprise that will help marine companies across the region improve profit and productivity.’

John Charnley, chairman of Discovery Yachts, has been working on the project for some months. ‘For smaller companies to continue growing, we need to be able to get new designs to market quickly and efficiently, this machine would certainly aide this process,’ he said. ‘The most important factor is to make sure that the facility is commercially viable and that as a group we are sure that the finances work out.