Hi-tech supply chain firm secures £3m Regional Growth Fund boost
- Published on Thursday, 19 July 2012 16:09
- Posted by Scott Buckler
Businesses across the UK automotive supply chain are demonstrating exceptional levels of innovation with the ability to drive sustainable economic recovery
Components manufacturer, DTR VMS Ltd, secured more than £3 million from government's Regional Growth Fund (RGF), to develop state of the art production facilities and boost skills levels.
The Chippenham-based automotive components supplier was awarded £3.1 million from the RGF which helped to unlock private funding as part of a £12.7 million investment in plant facilities, while safeguarding 187 jobs and creating a further 21 positions.
"It's a real pleasure to visit this dynamic company and congratulate them on their Regional Growth Fund award. Their new site makes sustainable use of Brownfield land and will allow their highly technical business to develop and grow," said Business and Enterprise Minister Mark Prisk.
"It's also good to meet members of a skilled workforce, including local apprentices. The Regional Growth Fund is all about helping local people unlock growth in their area and give a real boost to the economy. It's good value for the taxpayer too, delivering approximately £6 for every £1 of RGF money, which will help us make the UK the best place in Europe to start, finance and grow a business."