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18/10/2004
£5m grant set to secure 736 Merseyside jobs
A £5 million grant designed to safeguard jobs at a manufacturing facility in Halewood, Merseyside, has been announced today by Trade and Industry Secretary Patricia Hewitt.
The trade department grant has been offered to Getrag Ford Transmissions as part of a £115 million investment project to build a new six-speed transmission system, safeguarding 736 jobs. The project has been secured for Merseyside in the face of strong European competition, the department said.
Getrag Ford Transmissions is a specialist manufacturer of gearboxes, employing 3,700 people in Europe, and generated revenues of more than €839 million in 2003.
Patricia Hewitt said: "The UK remains the best place for investors to base their businesses in Europe and Getrag Ford Transmissions' decision to make this investment demonstrates Merseyside's attractiveness as a high value manufacturing location."
Between April 1997 and March 2004, £2.2 billion of regional selective assistance was awarded in Britain. It is expected to secure £19.3 billion of private investment (a ratio of £9 of new investment for every £1 of grant) and create or secure some 376,000 jobs.
(gmcg)
The trade department grant has been offered to Getrag Ford Transmissions as part of a £115 million investment project to build a new six-speed transmission system, safeguarding 736 jobs. The project has been secured for Merseyside in the face of strong European competition, the department said.
Getrag Ford Transmissions is a specialist manufacturer of gearboxes, employing 3,700 people in Europe, and generated revenues of more than €839 million in 2003.
Patricia Hewitt said: "The UK remains the best place for investors to base their businesses in Europe and Getrag Ford Transmissions' decision to make this investment demonstrates Merseyside's attractiveness as a high value manufacturing location."
Between April 1997 and March 2004, £2.2 billion of regional selective assistance was awarded in Britain. It is expected to secure £19.3 billion of private investment (a ratio of £9 of new investment for every £1 of grant) and create or secure some 376,000 jobs.
(gmcg)
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