Ahead of National Manufacturing Day (26 September), two reports reveal how North West manufacturers are currently thriving, putting them in a strong position to grow and drive economic activity in the region.
The latest Lloyds Bank UK Sector Tracker revealed that in August, six out of the seven manufacturing sub-sections recorded growth in their outputs, including manufacturers for chemicals, technology equipment, food and drink, metals and mining, industrial goods and automobiles.
Jenny France, Area Director in the North West at Lloyds Bank Commercial Banking, said: “Manufacturing continues to be one of the driving forces of growth in the North West. National Manufacturing Day is an opportunity to celebrate that success and champion the businesses unlocking new innovation, from materials and electronics, to arts and crafts.
“While our sector tracker data shows the last month has been good for manufacturers across the country, Make UK’s report makes it clear that the North West in particular is thriving, with it matching the highest confidence levels in the region in the last ten years.”
There are shining examples of manufacturers in the region that have invested in growth and innovation this year.
Harman Technology is one example of this. The Cheshire-based business cemented its place as a world-leader in manufacturing analogue film after a multi-million-pound investment in two new state-of-the-art converting machines. This new technology allowed Harman to more than double the number of film cassettes it produces each year, as it looks to meet the rising demand for traditional forms of photography.
Earlier this year, Bolton-based manufacturers Till & Whitehead also invested to boost capacity, expanding its facility in Gloucestershire by a third to allow it to meet a growing demand for its window fasteners and consumables.
And this growth in manufacturing is bolstering activity within supply chains. For example, Cheshire-based specialists logistics provider Brit European was recently able to use a £4m asset finance package from Lloyds Bank to invest in its vehicle fleet with new fuel-efficient tractor units, providing a boost to both its operations and sustainability plans.
Meanwhile, Make UK’s Q2 outlook report – produced with business advisory firm BDO to gauge the mood amongst manufacturers across the country – revealed that this positive trend is particularly prevalent in the North West. The region recorded the largest jump in confidence amongst UK manufacturers.
Jenny France continued: “These firms have shown how there is currently a powerful platform in the North West which our manufacturers can use as fuel to supercharge success and take their businesses to the next level. As always, we’ll continue to be by the side of anyone who wishes to follow in their footsteps and pursue their plans for growth, making sure the North West continues to have a manufacturing sector that it can be proud of.”
