UK automotive supply chain bags £45million funding boost
By Kyle Lindsay
Thursday, March 6, 2014 - 16:00
BOOST: Vince Cable
The UK automotive sector has secured £13.3million worth of government-backed funding, creating nearly 1,000 new jobs.
Announced by Business Secretary Vince Cable, the Advanced Manufacturing Supply Chain Initiative (AMSCI) contribution adds to the £32.2million of industry contributions already in the kitty.
AMSCI, the government-run funding competition, is designed to improve the global competitiveness of UK advanced manufacturing supply chains.
The Long Term Advanced Supply Chain (LTASC) project will provide funding for a four-year programme of support for research and development, skills training and capital investment among 38 UK suppliers.
The programme aims to boost the international competitiveness of UK automotive suppliers using an innovative approach to addressing Quality, Cost, Delivery (QCD), R&D capability, management and employee development.
“The UK has a thriving UK automotive industry but we must continue to grow and develop our supply base.”
Mike Hawes, SMMT
Many aspects of the programme will be delivered by SMMT Industry Forum, which supports manufacturing companies in the UK and abroad in delivering maximum operational performance.
Mike Hawes, Chief Executive of the SMMT, 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 business.”
Image courtesy of say_cheddar, with thanks.