PAB Awarded Government Funds to Help Rebuild British ManufacturingMember News
The Government has announced the latest winners from a fund to help rebuild British manufacturing prowess.
Twenty supply chain projects from across the country will benefit from a total of £67 million of Government investment, with £109 million being invested in the same projects by industry.
We are very proud to announce that we are involved in one of the selected projects. The project, led by Impression Technologies Ltd based in Solihull, will bring a new UK developed and patented technology to production, enabling the manufacturing of high-strength, complex aluminium panels suitable for automotive, aerospace and rail components. It will create up to 44 jobs and safeguard a further 15. The project will receive a £650k grant from the Government plus a £1.4 million loan as part of the £5.4 million project.
Mark Brazier, Managing Director or PAB Coventry Ltd said:
It is reassuring to see the Government backing British manufacturing in this way. Coventry and the Midlands has such a tradition within manufacturing and engineering, but has suffered with the demise of the automotive industry. We are definitely starting to see improvements and an investment like this further increases confidence. PAB works hard to keep at the forefront of technology and innovation which means we get involved in pioneering projects such as this one with Impression Technologies. Furthermore, we continue to invest in our own future to protect our business, increase our workforce and keep skilled labour within Coventry.
Business Secretary Vince Cable said:
While there is much to celebrate about British manufacturing, it is clear that our supplier base has been eroded over the last thirty years. Reversing this will boost exports, and help safeguard UK jobs. Our targeted interventions have helped revive the great British manufacturing sector.
The benefits of stronger manufacturing supply chains will be felt across the whole economy new cutting-edge technologies, a more highly skilled work force and improved productivity will boost growth and jobs across the country.
Business Minister Matthew Hancock said:
Manufacturing is seeing a resurgence across the UK.
From the world leading 3D printing in Coventry to the next generation of aerospace components in Gloucestershire, Britain is standing tall in the world once again.
Strong supply chains are at the root of this success and these new funds will keep Britain competitive.
AMSCI funding provides research and development support, skills training, investment capital and encourages major new suppliers to reshore in the UK.
The manufacturing sector supports two and a half million jobs and contributes almost £150 billion a year to the UK.
For more information including a list of all successful projects, please visit https://www.gov.uk/government/news/manufacturers-get-more-support-from-government
PAB has been recognised as industry leaders in innovation, design and product development and as such has become involved in a number of leading research and development initiatives.