17th Jul 2014 07:01
LONDON (Alliance News) - The UK government will announce on Thursday that the British aerospace industry will be given GBP154 million in public funds for new technology development, according to the Financial Times.
The new technology boost, a third of which will go towards 3D printing of aircraft parts, is supposed to help Britain's aerospace industry hold onto a strong position in the overall market with the development of lighter, greener planes.
The plans, which will be outlined by Deputy Prime Minister Nick Clegg, include major payments to UK engineering group GKN PLC for research into 3D printing to produce lightweight and cost-effective parts.
Another GBP42 million will be paid out to an Airbus-led group for design and manufacturing, with another GBP20 million invested in jet engines, a key UK industry due to Rolls-Royce Holding PLC.
http://www.ft.com/cms/s/0/209965c0-0cfb-11e4-bf1e-00144feabdc0.html?ftcamp=crm/email/2014717/nbe/UKBusiness/product&siteedition=uk#axzz37haTk36T
By Tom McIvor; [email protected]; @TomMcIvor1
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