Member Article

TVU Highlights Opportunities for Businesses in Automotive Industry

Tees Valley Unlimited, the local enterprise partnership for Tees Valley, has raised awareness of the opportunities and benefits for manufacturers that diversify into the resurgent automotive industry.

More than 70 people attended a business briefing at NIFCO UK in Eaglescliffe, where representatives from the Department for Business Innovation and Skills, the Manufacturing Advisory Service and the Sector Skills Council for Science, Engineering and Manufacturing Technologies were on hand to showcase the needs of the industry and how local businesses could meet them.

The day consisted of a question and answer session and presentations on areas such as meeting the challenge of manufacturing for a growth industry and entering the industry as a new supplier, with the focus mainly on assisting businesses to successfully negotiate the transition into a new market.

Information was specifically targeted at Tees Valley small and medium-sized manufacturing businesses as there is a large overlap of skills into the automotive industry, and diversifying may be a viable opportunity for them. The Automotive sector is currently worth £8 billion, a figure which is expected to grow to £11 billion.

Tees Valley Unlimited Managing Director, Stephen Catchpole, said: “Tees Valley is world-renowned for its Manufacturing and Chemical Industries and the skills of the people that work in them.

“The automotive industry is seeing huge growth at the current time and by diversifying the manufacturing skills base that we have here in Tees Valley into the lucrative automotive industry, companies could capitalise on new business markets.

“Tees Valley Unlimited is determined to help companies make the most of the opportunities available. There is a huge shortfall in the UK automotive supply chain that could be filled by the diversification of businesses.”

Earlier this year, NIFCO UK was awarded £1.65m from the Regional Growth Fund to assist the company’s move into the electric vehicle battery market. NIFCO UK’s diversification has paid off, with another 127 staff being taken on as a result of orders from the new market.

Stephen Catchpole added: “NIFCO UK was the perfect place to hold the briefing as it has embraced diversification into expanding markets. This has proved to be very successful for it and it is a great example of how market diversification can revolutionise a business for the better.”

This was posted in Bdaily's Members' News section by Recognition PR Business Team .