Thirty-two manufacturers have successfully applied for £90 million of government funding to help British suppliers compete in the global economy and attract foreign investors, Vince Cable has announced.
Building up the supply chain and encouraging new suppliers to manufacture here is one of the steps we’re taking to strengthen the UK’s manufacturing capability.
The BIS website describes the initiative:
The Advanced Manufacturing Supply Chain Initiative aims to help existing UK supply chains grow and achieve world class standards while encouraging major new suppliers to come and manufacture here.
The new fund will support innovative projects in established UK advanced manufacturing sectors such as aerospace, automotive and chemicals. It will also target newer growth areas where the UK is well placed to take a global lead, such as energy renewables and other low carbon sectors.
You can read a full Financial Times article on this news item here.