Lloyds Bank has announced that it is investing a further £5 million to fund its sponsorship of the industry leading Advanced Manufacturing Training Centre (AMTC) on the Manufacturing Technology Centre campus near Coventry. The funding doubles the bank’s original commitment, bringing total funding to £10 million over 10 years.
The extra funding will support around 3,500 manufacturing apprentices, graduates and engineers by 2024, equipping them with the right skills to be at the forefront of manufacturing in the future. The funds will contribute to a 350 per cent increase in the original target for training apprentices, made in 2015. It will also support the AMTC’s commitment to address the shortage of skills – one of the biggest challenges facing the manufacturing sector.
Established in 2015, the Lloyds Bank Advanced Manufacturing Training Centre is a state-of-the-art training centre, next to the pioneering Manufacturing Technology Centre (MTC), designed to help create a new generation of engineers and technicians, equipped with the advanced manufacturing skills of the future.
The purpose-built facility gives apprentices a range of training and experience of real-life projects from apprenticeship programmes, through engineer up-skilling courses and graduate development programmes, extending through the development scale to include executive level training.
The centre’s apprenticeship scheme provides business-ready technicians and engineers for employers eager to grow their businesses and ensure a competitive advantage. AMTC apprentices have received gold-standard specialist training with the skills to make an immediate difference in their organisation.
Lloyd’s Bank has been actively working with the MTC to promote the manufacturing sector and highlight the range of skills required within the industry. In addition the bank actively supports clients in their drive to diversify their workforce in order to address the skills gap.
Business Secretary Greg Clark has welcomed the announcement: “The development of skills and apprenticeships, particularly in engineering, is crucial to the success of the UK’s Industrial Strategy. This training centre, with its focus on technical education in advanced manufacturing technologies, from apprenticeships through to technician and engineering up-skilling, will help manufacturers gain a competitive advantage, improve productivity and ensure high skilled well paying jobs.”
MTC chief executive, Dr Clive Hickman said he welcomed Lloyds Bank’s commitment to manufacturing, and in particular the bank’s ongoing sponsorship of the AMTC.
“The training centre is developing vital skills which are seeding industry in the region and far beyond, bringing on the next generation of manufacturing engineers and technicians. During their time at the AMTC they work on real projects gaining invaluable skills needed by UK manufacturing industry,” he said.
He added, “The skills shortage has been an ongoing issue for manufacturing. Since the AMTC was established hundreds of apprentices and engineers have been trained and up-skilled, and are now working in the aerospace, automotive, defence, medical and process industries, filling vital roles.”
António Horta-Osório, chief executive of Lloyds Banking Group said, “Our extended sponsorship, from £5 million over five years to £10 million over 10 years, will see industry benefit from three and a half thousand apprentices, graduates and engineers being trained and developing new skills. This will help address the single biggest challenge that manufacturers consistently tell us about – the shortage of skills.”
He added,” The apprentices and skilled engineers who emerge from these world class training facilities play a central role in helping to drive up the productivity of the nation. They will be part of broader efforts to rebalance our economy – a more dynamic, open economy that is backed up by long term investment in infrastructure, skills, science and the latest technology.”
The MTC was founded by the University of Birmingham, Loughborough University, the University of Nottingham and TWI Ltd. The MTC’s industrial members include some of the UK’s major global manufacturers.
The MTC aims to provide a competitive environment to bridge the gap between university-based research and the development of innovative manufacturing solutions, in line with the Government’s manufacturing strategy. The MTC is part the High Value Manufacturing Catapult, supported by Innovate UK.