Wednesday, July 16, 2008

News: Manufacturing remains key to South Yorkshire economy


Manufacturing in South Yorkshire continues to play an important role in supporting the growth of the region’s economy, according to a leading finance organisation. South Yorkshire Investment Fund (SYIF) has made 167 investments in the Advanced Metals and Manufacturing and Engineering sectors, totalling more than £16million and accounting for 40 per cent of their total funding. Gordon Bridge, Sheffield's Master Cutler, has praised the support provided by SYIF. He said: "I am delighted that SYIF has recognised the importance of manufacturing to both the region and country with the investments it has made. "South Yorkshire's manufacturing expertise continues to be utilised around the world. The region has enjoyed a resurgence of growth in this sector in recent years, with both new companies emerging and traditional businesses enjoying expansion. "Some of the world's leading companies and research institutions are now based in South Yorkshire, which continues to be regarded as a centre of excellence in manufacturing." SYIF has twice helped Rotherham based PMS Diecasting Limited with loans totalling £150,000 to invest in machinery. The company won a new contract to manufacture die-cast zinc components and needed to step up their production capabilities to meet increasing market demand.


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