A £150 million package has been revealed by Business Secretary Lord Mandleson which is designed to help UK manaufacturers during the period of recession, particulariy in the “high tech” manufactirung arena.
The move should help to safeguard thousands of jobs in the industry and improve many organisations chances of a successful manufacturing future.
The funding has been specifically tagreted and will aid the following:
- Rolls Royce – the engine manufacturer will receive around £45 million for four new advanced manufacturing facilities. The facilities will focus on aerospace and cilvil nuclear technologies and the funding will help to sustain up to 800 jobs.
- Rolls Royce – A further £45 million has been awareded to the company in order to research and develop low emission engines.
- SAMULET – this organisation will receive £40 million in order to fund its aerospace project.
- Printable Electronics Centre – this centre focuses on display technology and has been awarded £12 million.
- The Manufacturing Advisory Service has been awarded £4 in order to expand its operation.
- The Centre of Excellence for Silicon Design has been awarded half a million pounds.
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Lord Mandleson has stated that this cash injection will provide UK manufacturers with the opportunity to create new jobs in Britain.
