Firms in Coventry and Warwickshire in the Rover supply chain can apply for a slice of an extra £7 million aid announced by the government. Production lines for the Rover 25, 45 and 75 are being re-located, and there will be a knock-on effect on companies that supply the car giant.
Money from the Department of Trade and Industry is being made available to help firms that meet certain criteria, as they could be affected during the three-month changeover period.
Applications made by Coventry and Warwickshire companies will be helped on their way by the Coventry & Warwickshire Chamber. Firms that have 20 per cent or more of their turnover dependant on the Rover 75, or 40 per cent of their turnover dependant on a combination of components supplied to the Rover 25, 45 and 75. will qualify.
Chamber Coventry area director Peter Shearing said: “Thanks to the swift action of The Chamber Rover suppliers managed to access a significant percentage of the first phase of financial support made available by the government.
“This is another good opportunity to obtain financial aid and make positive use of the down-time period when Rover components will not be required whilst production lines are moving location.
“For those who succeed in accessing funds placing senior staff and management on strategic development courses and similar staff development activities will ensure automotive suppliers have the best preparation in order to meet the demands of car manufacturers in the 21st century.”
The Chamber have sent letters to all companies within the Rover Supply Chain Network, created earlier in the year before the future of Longbridge was decided.
Companies who have already received help from the initial phase of aid can still apply for funding from this package, providing the state subsidy they have received has not exceeded the European Union maximum of £60,000 over the past three years.