Vince Cable, Secretary of State for Business, highlights e2v Regional Growth Fund Award
Vince Cable, Secretary of State for Business, today met a group of journalists where he spoke about investment in UK manufacturing, specifically the Regional Growth Fund (RGF) administered by the UK Department for Business Innovation and Skills (BIS) and the grant announced earlier this year to e2v under the fund.
He explained that e2v, in Chelmsford, Essex will use £6.25 million of RGF support to invest in capacity and facilities to increase design, engineering, manufacturing and test capabilities and to support wider investment in their ProWave microwave processing systems for a range of industrial applications in resource and energy intensive sectors; offering a cleaner, greener, more efficient technology to the processing of bulk materials. This is part of £29.4 million overall investment expected to create 336 new jobs at e2v and through its supply chain.
e2v recently announced the first delivery of its ProWave vermiculite processing system, for commercial field trial installation, with Silvaperl, the UK’s leading producer of exfoliated vermiculite. Vermiculite is a naturally occurring mineral used across a broad range of industrial and commercial markets, including insulation, protective coatings and agriculture. Approximately 530,000 tonnes of vermiculite are processed each year, through an estimated 400 facilities around the world.
Keith Attwood CEO of e2v said “This project is an integral part of our strategic plan for growth and a result of our close working relationship with our research partner, the University of Nottingham. Today’s news is a part of a process which began with the initial grant award announcements last April and today confirms that we can start to draw funds.” Adding, “We expect that more than 100 jobs will be created here at e2v by 2014, together with additional jobs in our supply chain. This grant is good news for us and good news for the UK’s export figures and technology leadership”.
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Andy Bennett Group Communications Manager
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About e2v
e2v is a leading global provider of specialist technology for high performance systems and equipment; delivering solutions, sub-systems and components for specialist applications within medical & science, aerospace & defence, and commercial & industrial markets.
e2v has its headquarters in the UK, employs approximately 1500 people, has design and production facilities across Europe and North America, and has a global network of sales and technical support offices. For the year ended 31 March 2011, e2v reported sales of £229m and is listed on the London Stock Exchange. For more information visit e2v.com.