Bank of England Governor praises University's world-leading Advanced Manufacturing Research Centre
17/03/2015 The University of Sheffield
The Governor of the Bank of England hailed the University of Sheffield's Advanced Manufacturing Research Centre as a prime example of the city's continuing spirit of hard work and innovation during a visit last week.Governor Mark Carney was welcomed to the centre and given an overview of the AMRC cluster by Nuclear AMRC Chief Executive Mike Tynan, Professor Keith Ridgway and fellow directors from the AMRC with Boeing, strategic advisor Richard Caborn and University of Sheffield Vice-Chancellor Professor Sir Keith Burnett.
During his visit, Mr Carney took part in a panel discussion with leading figures from advanced engineering and regional businesses and gave a speech to an invited audience of around 200 business people. The governor's speech was broadcast live on television and the internet, and is expected to be his last public appearance before the UK's general election in May.
The Governor opened his speech by praising the centre's directors for transforming a former slag heap into a state-of-the-art manufacturing park which is leading the way for UK manufacturing.
He said: "It is a great pleasure to be in the City of Steel to honour both its historic role in forging the industrial foundations of modern Britain and its current leadership in promoting advanced manufacturing for the post-industrial age.
"This city has been at the very forefront of innovation for hundreds of years. In the 18th Century Sheffield revolutionalised steelmaking with the discovery of the crucible steel process. By the mid-19th Century the city represented almost half of Europe's total steel output."
He added: "Since then, Sheffield has remained fleet of foot through hard work and innovation. The University of Sheffield's Advanced Manufacturing Research Centre is a prime example of that spirit. No one knows better than you that manufacturing needs to become ever-more productive to prosper in a world of steadily falling prices and relentless international competition."
The Governor finished his visit by meeting apprentices at the AMRC Training Centre, which provides the practical and theoretical skills that manufacturing companies need to compete globally. The vital economic role of vocational education has been emphasised in a new report co-authored by University Vice-Chancellor Professor Sir Keith Burnett.
Thanking Mr Carney for his visit, Sir Keith said: "When you look around this manufacturing park - and I hope you will - you will see world-leading facilities for design and prototyping, for machining, drilling, forging and working with composite materials. You will see virtual reality technology and robotics. But you will also see people of real vision working in partnership. Our superb engineering academics and over 100 partner companies, but also young people.
"This University is doing something different. We are taking state-of-the-art research and facilities and sharing them with the supply chain. And we have responded to the needs of industry by supporting the first ever cohort of advanced apprentices in a research-intensive university."
He added: "This capability is what this country needs for companies to invest, to expand and for us to increase our exports.
"We have a long term commitment to this work.
"Industry needs sustained capital and government orders for major infrastructure projects. We will continue to work in new ways to make this possible."
Mr Carney was appointed governor of the Bank of England in July 2013, after five years as governor of the Bank of Canada. The Bank of England's responsibilities are defined by Parliament and have been significantly expanded since the financial crisis, but focus on promoting the good of the people of the UK by maintaining monetary and financial stability.
For more information, please contact:
Hannah Postles
The University of Sheffield
Western Bank
Sheffield
South Yorkshire
S10 2TN
Tel: +44 114 2225339
Email: h.postles@sheffield.ac.uk
Web: www.shef.ac.uk
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