Deputy PM welcomes £4.3 million engineering deals in Rochdale

The Deputy Prime Minister has welcomed deals by a Milnrow-based manufacturer to export its products to China and Europe.

Precision Technologies Group, a leading machine tool design company, has announced the sale of two machines to a major state-owned Chinese company in a deal worth £3.3 million.

The company has also been approached by a well established central European based firm to supply several pairs of large precision rotors in a deal valued at £1 million.

The announcement was made at a special British Business Embassy event in London today (10 August) attended by the Deputy Prime Minister, and is one of several deals by UK companies that will lead to hundreds of jobs in the engineering, aerospace and automotive sectors.

The event has been organised by UK Trade & Investment (UKTI) during the Olympic and Paralympic Games to showcase British industry and promote international business opportunities.

Other deals have also been announced today involving Pirelli Group, Airbus, The Get It Group, Bifrangi, GKN plc, Cella Energy and BGS International.

The Deputy Prime Minister, Nick Clegg, said: “The skills and expertise of British businesses are gold medal standard and highly sought after across the world.

“The UK is one of the top ten manufacturers in the world. Our manufacturing sector is a national success story and lies right at the heart of our strategy for economic recovery and growth.

“The announcements being made today will create and safeguard jobs and stimulate growth. They are a welcome boost to British business and a vote of confidence in the UK.”

Business Secretary Vince Cable added: “The key to a sustainable and balanced economy is having a long-term approach to growth, investing in manufacturing technology, research and development, and skills so we have the right talent to make the most of the recovery.

“Working with business, we are taking steps to strengthen the UK’s manufacturing capability, ensuring a better business environment that will address barriers to growth and encourage innovation, exports and inward investment as well as build UK supply chains.“