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Engineering and manufacturing companies are being urged exploit the untapped value in their intellectual property to avoid losing money on lost designs, systems and patents, and create new revenues, says the Manufacturing Technologies Association (MTA).

Each year millions of pounds in IPR – intellectual property rights – are being neglected by the UK’s engineering sector, because companies do not understand these rights and the IP wrapped up in their designs and processes, the leading manufacturing technology business group says.

The Manufacturing Technologies Association (MTA) has announced that Lloyds Bank Commercial Banking is to be, once again, the headline sponsor of the largest event of its kind in the UK – MACH 2018 – which brings together all the best innovation and technology for a wide range of manufacturing sectors under one roof.

This is the fourth time Lloyds Bank has sponsored MACH, further strengthening a long term relationship between the bank and the MTA, the organisers of the event. MACH takes place every two years and in 2016 attracted over 25,000 visitors.

Submissions for the 2017 edition of the Technology Design and Innovation (TDI) Challenge, the Manufacturing Technologies Association’s (MTA) flagship schools competition for young engineers, are now open.

Last year, in January 2016, when we gathered for our annual dinner in Birmingham who would have thought, or even imagined, that our world was about to be turned upside down and look so different. We now face a range of risks from the global rise of protectionism.

We are faced with an emboldened Russia, an assertive China, an introverted America and an uncertain Europe. And here we are in the UK with an unexpected outcome. A new Prime Minister with a completely different focus who has a new team with different objectives – which gives us eye opening opportunities.

Last night saw 500 people come together for the MTA’s Annual Dinner, a fantastic celebration of the manufacturing technology industry.

The event, which was held in London for the first time in seven years, was a huge success with guests entertained by Alexander Armstrong and Simon Evans. MTA President Geoff Bryant gave the keynote speech with a rousing call to support exporting companies.

The House of Lords European Union Committee has this week published its report into Brexit: trade in goods.  This report follows an Inquiry by the EU External Affairs Sub-Committee, to which the Manufacturing Technologies Association (MTA) gave evidence in the autumn of 2016.

James Selka, MTA CEO, appeared in person before the Committee and the MTA submitted written evidence too. Much of the Association’s evidence has been taken on board.

Reacting to today’s budget MTA CEO James Selka commented “We are pleased to see some of the announcements in today’s Budget reflecting some of the positive measures outlined in the Industrial Strategy Green Paper.

Manufacturers will welcome the commitment of £740m to fund digital infrastructure. This investment will play an integral part in switching them on to Industry 4.0 based technologies and further automating their businesses. We need fast reliable connectivity throughout the UK to power this revolution and to encourage investment in new technologies.

Speaking after the publication of the Government's industrial strategy Green Paper, James Selka, the CEO of the Manufacturing Technologies Association, said: "We welcome the priority the Prime Minister has placed on Industrial Strategy. It could be an important contributor to creating an environment that promotes the long term investment that we need to deliver a step change in productivity through technology and skills.

Speaking after the Prime Minister’s speech on her approach to Brexit negotiations, James Selka, the CEO of the Manufacturing Technologies Association said: “While it is useful to have some clarity as to the future, we urgently need more details as to what our trading relationship with the EU might look like. We welcome the recognition that we need a comprehensive customs agreement and that trade should be as frictionless as possible.

The MTA held its Annual General Meeting in London on Tuesday 6th December 2016 at One Whitehall Place, Westminster.

The meeting, which was proceeded by an MTA Members’ Forum, saw over 50 members come together to discuss the MTA’s future with potential new events and the Association’s response to Brexit at the forefront of the debate.

The AGM saw the MTA Presidency pass from Guy Mollart to Geoffrey Bryant, Managing Director of Citizen Machinery UK.