PressClub United Kingdom · Article.
BMW Group is a significant contributor to UK plc
Fri Feb 10 12:00:00 CET 2006 Press Release
An independent economic impact study carried out by Oxford Economic Forecasting has provided new data to quantify the contribution of BMW Group's business operations in the UK.
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Angela Stangroom
BMW Group
Tel: +44-1252-92-1268
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Author.
Angela Stangroom
BMW Group
An independent economic impact study carried out by Oxford Economic Forecasting
has provided new data to quantify the contribution of BMW Group's business
operations in the UK.
The key findings of the study, based on 2004 data, show:
·the activities of the BMW Group contributed £1 billion directly to UK GDP in
2004.
·the BMW Group and its dealers directly employed almost 20,000 people
·the Group purchased raw material, components, capital equipment and business
services amounting to £1 billion from UK suppliers.
·BMW Group has spent around £900 million in upgrading its production facilities
in the last four years and its ongoing investment of £96 million in 2004 was
0.7% of total UK manufacturing investment.
·BMW Group is also an important exporter with the £1.7 billion worth of car,
engine and related exports in 2004 accounting for 0.9% of UK total goods
exports.
·the Group's contribution to UK GDP also generated a significant contribution
to the UK exchequer totalling over £1 billion in 2004 and equivalent to an
extra third of a penny on the basic rate of income tax.
Adrian Cooper, managing director, Oxford Economic Forecasting Limited, said:
"During a time when UK manufacturing has struggled, the BMW Group has made a
significant contribution to the UK economy. It has invested heavily and seen
large expansions in the production of the new MINI, a commitment to training
rewarded with the success of its Hams Hall engine plant, and a revitalised
Rolls-Royce Motor Cars operation. Taking the combined impact of BMW's
activities, both directly, through its suppliers and the wider economic
activity that this spending supports, we estimate that in total, BMW Group
contributed over £2.5 billion to UK GDP in 2004. And BMW Group supports a total
of over 55,000 jobs in the UK."
Jim O'Donnell, managing director, BMW UK, said: "Our UK businesses have now
developed into a strong and cohesive group. We are looking to increase our
future UK sales volume and our MINI production triangle in the UK will
strengthen the links between our plants at Oxford, Hams Hall and Swindon. Over
time we see this leading to more business for UK suppliers and further
increasing BMW Group's contribution to UK plc."
Ends
For further information or a copy of the report please contact:
Angela Stangroom - Group Communications Manager
Tel: 01344 480537 / 07740 740425
Email: angela.stangroom@bmw.co.uk
Natalie Wakefield - Group Communications Executive
Tel: 01344 480108 / 07796 930 272
Email: natalie.wakefield@bmw.co.uk
Press office fax: 01344 480306
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