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SMMT supports investment to strengthen UK supply chain and close skills gap

Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window) Funding of £5.4 million awarded today by the Department for Business, Innovation and Skills (BIS) will help six UK automotive suppliers win new business and close the skills gap.Currently only a third of the parts used in UK-built vehicles are sourced domestically. The investment, which was announced by Business Secretary, Vince Cable, will help businesses around the country win and maintain more contracts with large automotive suppliers.The government-industry investment includes £2.7 million from the Employer Ownership Fund automotive supply chain competition. The fund enables employers to design training projects that can address skills shortages holding back their business, providing 50% match funding to the company.The winners of the first round of funding are:Benteler, CorbyBrose, CoventryGetrag, HalewoodGestamp, SedgefieldNifco, Stockton-on-TeesUnipres, SunderlandSMMT Chief Executive, Mike Hawes, said, “Strengthening the UK supply chain is essential for the future prosperity of the whole automotive industry. We have to secure skilled jobs for long-term growth so this funding will ensure that UK suppliers are well placed to take advantage of the potential £3 billion of new business opportunities available to them.” read more