Key elements of speech made on behalf of Oxfordshire LEP for Opening of LTI Metaltech\'s New Manufacturing Facility - 4th March 2011

1. 25 October 2010, David Cameron challenged UK
industry to commit “to create and innovate; to invest
and grow; to develop and break boundaries”
For the Oxfordshire-LEP, this is also key objective of us
to take a leadership role aimed at increasing the number
of high value-adding jobs in Oxfordshire.
Since being privileged with an invitation to attend and
speak at the opening of LTI Metaltech’s new facilities, I
have noted how there are many resonances between
the priorities of the Oxfordshire LEP and that already
demonstrated in the success of this company.
(I hope you will excuse my pun of “resonance”
associating with the major downstream application of LTI
Metaltech’s technologies and products in the Medical
Magnetic Resonance Imaging (MRI) sector).
(Cryogenic Pressure Vessels used to encapsulate Liquid Helium that
cools the Superconducting Electromagnets in these devices down to 4
degrees above absolute zero!)
Increase in High-Value-Adding Jobs – already 85-110 in
past year with further 10% growth foreseen in coming
year (High Skills and Advanced Technology)
Inward Investment: £1.5Million for this facility, which
itself is an “Enabling Infrastructure” (another of the
Oxon-LEP’s priorities). Further investments are also
foreseen to take advantage of this infrastructure for
increases in automation towards still higher productivity
(already noting a remarkable figure of 4000 MRI
containment vessels/ year as current production target)

2. Building “Clusters of Excellence” and Specialised
Supply Chains – Oxfordshire can sometimes be
accused of trying to be “Good” at too many things; thus
falling short of “Greatness” – “Greatness” is
“magnetic”(excuse pun again) toward investment and
collaboration. LTI-Metaltech is part of a truly “World-
leading” specialism for Oxfordshire, namely a Cryogenics
cluster established in this area. LTI Metaltech’s
specialised supply chain association with Siemens
Magnet Technology is a manifestation of this county’s
internationally leading “Greatness” in the still rapidly
growing application of medical MRI imaging.
Supporting businesses to Innovate and Grow is another
of Oxfordshire-LEP’s priorities. I am delighted to hear that
LTI-Metaltech even in the midst of their amazing Growth
rate in their core business, is already looking beyond to
applications of their technologies to further high
opportunity business sectors, including the old and new
nuclear industries.
Finally, I note the fantastic opportunity that companies
like LTI Metaltech can offer the young people in this
county, in acquiring specialised and high-value Skills
(another of the LEP’s priorities). It is evident that more
needs to be done (and I am looking for the LEP to
provide specific support in relation to Skills-mismatches).
I am delighted that LTI Metaltech have joined the
Oxfordshire 100 in 100 scheme (100 New Apprentice
opportunities in 100 Days) launched 14th Feb).
Let’s now Move to Actual Purpose of this event to formally open these
new facilities here at LTI Metaltech.