Transport engineering and the automotive component supply chain have the benefit of new funding and support for growth.
Funding worth £45.5 million for UK suppliers has been secured through the Advanced Manufacturing Supply Chain Initiative thanks to a bid from the Society of Motor Manufacturers and Traders.
By securing £13.3 from government, the bid leverages a further £32.2 million of industry contribution.
The money will help to drive a four-year programme of research and development, skills training and investment amongst 38 suppliers, creating nearly 1,000 jobs and safeguarding a further 1,600.
SMMT Chief Executive Mike Hawes said, “The UK has a thriving UK automotive industry but we must continue to grow and develop our supply base.
“This SMMT-driven programme will allow the supply chain to increase skills, R&D capability and manufacturing facilities, and will make UK-based companies more successful in competing for both local and overseas businesses.”
Industry stakeholders have also joined forces to provide small and medium-sized businesses in the supply chain and transport engineering sector with more support.
The Enscite organisation is a collaboration between Derby City Council, the University of Derby, Aston University and Cranfield University and aims to give SMEs help in improving their performance and maximising business opportunities.
Enscite Managing Director Colin McKinnon said, “Enscite’s main aim is to help manufacturing businesses to grow and thrive. It offers a range of support services to SMEs, including access to a £1 million Technology Fund to help firms invest in new cutting edge equipment.”
