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UK: £7.5 million to help companies hit by MG Rover collapse

By just-auto.com editorial team | 17 June 2005

A £7.5 million package has been announced to help companies in the West Midlands affected by the collapse of MG Rover, according to the BBC.

The cash, which comes from Advantage West Midlands, is expected to assist 1,000 automotive supply companies and a spokesman for the Accelerate Programme said the money would help businesses to expand and survive.

Chairman of Rover Task Force Nick Paul reportedly said the money would also help firms to "lead the world in product innovation and operational performance".

He added: "Whilst practical support remains the backbone of the offering there is also renewed commitment towards boosting the sector's profile in both the UK and overseas.

"This includes government lobbying and a number of best practice visits, where local companies can showcase their expertise to foreign delegates."

The BBC said the Accelerate Programme is already helping 1,700 automotive firms and the extra funding will mean the scheme can continue for another three years.