Around £2.4 billion (€2.8 billion) of capital
is still “frozen” in the UK manufacturing industry, according to
the latest Siemens Financial Services (SFS) report.
The finance company, which has been publishing
similar reports since 2006 – said that the “frozen” or inefficient
use of the capital is the result of poor use of asset finance and
leasing as means to acquire equipment and machinery.
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David Martin, head of sales at SFS in the UK,
said: “Due to the effects of the economic crisis, the manufacturing
industry in the UK is coming under massive pressure to become more
efficient.
“Leasing and rental are important financing
tools which help industry afford the most up to date equipment and
technology, as well as rapidly improving efficiency,” he added.
According to the report, frozen capital in the
UK has dropped by 14 percent from £2.8 billion in 2008, but there
is potential for improvement.
The SFS report covers six countries
– alongside the UK, there are Germany, France, China, Poland, and
Turkey.
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By GlobalDataIn the UK, the figure is lower compared with
€10.2 billion in Germany and €5.8 billion in France, but according
to the report this is due to the smaller size of the UK
manufacturing sector.
Antonio Fabrizio
