Rochdale-based Precision Technologies Group (PTG) Ltd, which includes the well-known Holroyd company, has announced the launch of the CQME European Innovation Centre.
This major initiative aims to drive innovation and develop specific technologies for new market sectors. The new centre is to be established in conjunction with PTG’s Chinese multinational parent company Chongqing Machinery and Electric (CQME), in partnership with two leading UK universities – Manchester and Huddersfield – each with a strong record of applied research across multiple technologies.
Targeted research and student training programmes are to be established at the universities and key links forged with the relevant departments and specialists.
From the very outset, CQME’s vision in acquiring the PTG businesses involved leveraging the companies’ advanced precision engineering technology expertise, especially their highly innovative machine tools range, with the ultimate goal of significantly accelerating the pace of product and market development in CQME’s strategic ambition to become a major player in global markets.
In order to achieve this, focus has been placed on increasing the specialist skills and knowledge base within the UK businesses and growing its intellectual property portfolio with targeted development in specific technologies for new markets. The ‘new’ knowledge and expertise gained will not only serve to extend the activities of the UK business but also be harnessed to open up new product and market opportunities for the China-based CQME companies.
To this end, a clear-sighted vision has been formulated which will involve establishing three centres, each with related aims but with very specialised skills and strengths:
• The CQME European Innovation Centre in partnership with Manchester University’s Faculty of Engineering and Physical Sciences
• The CHMTI – PTG European R&D Centre, focused on advanced machine tools and manufacturing technologies, in partnership with Huddersfield University’s Centre for Precision Technologies
• The CHMTI European Marketing Centre, a European-wide distribution and customer service centre for CQME’s export products.
Tony Bannan, Group CEO of PTG , says:
“The overriding objective is to build a global profile for this ‘centre of expertise’ in our core technical and commercial elements of manufacturing and process technologies, while bringing research students though a programme of targeted and funded projects. The centre will also provide a pool of consultants and specialists who can be called upon as a ‘panel of experts’ to consult and bring their expertise to PTG and CQME’s ongoing projects and strategies.”
On the partnership agreements with the two universities, Dr Bannan added:
“The significance of support from two notable academic institutions, well placed geographically, cannot be understated. Manchester is the perfect partner for CQME because it has large, multi-disciplinary research facilities and is strong in key technologies such as electrical generation and distribution, materials science, and many of the areas of interest to the wider CQME group businesses. Huddersfield, as a leading UK university in advanced manufacturing technologies, precision engineering and machine tools, offers valuable synergy for developing the CHMTI-PTG European R&D Centre. ”