Invotec approved for Sharing in Growth programme
SiG is designed to enhance the competitive capabilities of selected companies within the UK aerospace supply chain, helping them to tackle barriers to growth, boost exports and, between them, create more than 5,000 jobs within the UK’s high value manufacturing sector. Whilst the global aerospace market is forecast to grow considerably in the coming years, with a rising demand for air travel expected to generate orders for some 27,000 new aircraft and 40,000 new helicopters, many UK businesses in the supply chain are facing severe price competition from overseas companies.
Run by Sharing in Growth UK Ltd, SiG is backed by £50m from the Government's Regional Growth Fund and £10m of in kind support from Rolls-Royce. Selected businesses will provide match-funding, primarily through in-kind contributions of employee time. The company is chaired by Bryan Jackson, former Managing Director of Toyota Motor Manufacturing UK and Chairman of the East Midlands Development Agency (Emda), and its CEO is Andy Page, on secondment from Rolls-Royce where he held the position of Global Supplier Development Executive.
The SiG programme, for which there is a rigorous approval process, is aimed primarily at companies with a turnover of £10m+ and with the financial and managerial resources necessary for a long-term commitment. In the words of Bryan Jackson: "This is a process that takes a totally holistic approach to examining the performance of a business. It isn't just about processes – it is about management, finance, cost modelling, culture, lean manufacturing, technology and motivating people to grow and develop”.
There are currently 36 aerospace suppliers approved onto SiG with a further 10 awaiting approval.
Tim Tatton, Invotec Group Managing Director, commented: “Being approved by Sharing in Growth is excellent news for Invotec as it will provide us with ongoing tailor-made training and development support based on world class standards of performance in all areas of our business, from strategy through to implementation."
