Government announces funding for aerospace and manufacturing projects
A new £80million package to keep the UK at the forefront of advances in aerospace and advanced manufacturing has been announced by Business Secretary Vince Cable.
The government is investing £25million, with industry, led by Rolls-Royce, providing a further £40m, for a series of collaborative research and technology projects. £15m is being invested by the government in new capital equipment for the High Value Manufacturing Catapult, which will assist projects across the advanced manufacturing sector.
"This type of research will help ensure the UK stays at the forefront of advanced manufacturing," said Cable. "That is particularly true in sectors such as aerospace where we have a world leading position - and are determined to keep it that way. The new factory that Rolls-Royce is building will create at least 150 highly skilled jobs which doesn't just mean good news for them but for our aerospace sector and the wider economy too."
Colin Smith, Rolls-Royce director of engineering and technology, commented: "Rolls-Royce consistently invests significant amounts of money and resource in order to improve both our products and our manufacturing capability. The vast majority of this investment also continues to improve our environmental performance."
