The extra funds will support around 3,500 manufacturing apprentices, graduates and engineers by 2024, equipping them with the right skills to be at the forefront of manufacturing in the future. Furthermore, the funds will contribute to a 350% increase in the original target for training apprentices, made in 2015.
The Lloyds Bank AMTC gives apprentices a range of training options and experience of real-life projects, from apprenticeship programmes, through engineer up-skilling courses and graduate development programmes, to executive level training.
AMTC apprenticeship schemes provides business-ready technicians and engineers for employers eager to grow their businesses and ensure a competitive advantage. Lloyd's Bank has been actively working with the MTC to promote the manufacturing sector and highlight the range of skills required within the industry. In addition, the bank actively supports clients in their drive to diversify their workforce and address the skills gap.
MTC chief executive, Dr Clive Hickman welcomes Lloyds Bank's commitment to manufacturing, and in particular the bank's ongoing sponsorship of the AMTC: "The training centre is developing vital skills that are seeding industry in the region and far beyond, bringing on the next generation of manufacturing engineers and technicians. During their time at the AMTC, the trainees work on real projects gaining the invaluable skills needed by UK manufacturers.
“The skills shortage has been an ongoing issue for the manufacturing industry,” he continues. “Since the AMTC was established, hundreds of apprentices and engineers have been trained and up-skilled, and are now working in the aerospace, automotive, defence, medical and process industries, filling vital roles."
António Horta-Osório, chief executive of Lloyds Banking Group says: "Our extended sponsorship, from £5 million over five years to £10 million over 10 years, will see industry benefit from 3,500 apprentices, graduates and engineers being trained and developing new skills. This will help address the single biggest challenge that manufacturers consistently tell us about – the shortage of skills.
“The apprentices and skilled engineers who emerge from these world-class training facilities play a central role in helping to drive up UK productivity,” he adds. “They will be part of broader efforts to rebalance our economy; a more dynamic, open economy that is backed up by long-term investment in infrastructure, skills, science and the latest technology.”
