Local Jobs Secured with DTR VMS
Hundreds of jobs have been safeguarded after more than £3.1 million of government funding was secured in a bid to the government which was developed by Wiltshire Council working with local company DTR VMS.
The grant, which is part of an overall investment of £21million in Wiltshire from the regional growth fund (RGF), will safeguard 195 jobs and help secure around 800 more jobs in the company’s supply chain.
Working closely with the Economy and Enterprise service in Wiltshire Council, the application was met with great success. Only 119 of the 492 bids submitted were accepted, of which only 8 were from the South West.
Fleur de Rhe-Philipe, cabinet member for economy, said:
“Securing RGF funding to support local economic development ... sends a strong signal that the council and its partners want to make Wiltshire a business location of choice.
“The investment will create and safeguard a significant number of highly skilled jobs within a priority sector. We hope this will help build confidence at a crucial time for the local economy and will encourage other foreign owned companies to invest in Wiltshire.”
The management of DTR VMS said:
“DTR VMS Limited is delighted that its bid application for the second round of the government’s Regional Growth fund has been successful...
“The DTR VMS Limited project is key to underpinning the growth plans of its South Korean parent company Dong Ah Tire and Rubber Company Limited and will ensure the safeguarding of around 195 existing jobs in the DTR VMS UK facility and the creation of up to 21 new jobs in the next few years.”
DTR VMS, whose parent company is based in South Korea, manufactures specialist automotive components. It wishes to increase its research and development capacity by moving into a purpose built state-of-the-art facility, together with relocation and similar upgrading of its manufacturing and logistics operations, and consolidation of the Group's European and Asian logistics operations.
The strong performance of DTR VMS in Wiltshire has been put down to the strong advanced manufacturing base locally, the highly skilled workforce, the good reputation of Universities in the region and good communication links.