AN industrial giant's commitment to Ulverston and the UK following the Brexit vote has been welcomed as great news for the town.

Siemens Subsea, which employs more than 400 staff at its Ulverston plant manufacturing components for the oil and gas industry, has confirmed that it will continue its investment and remain committed to Ulverston.

Ahead of the EU Referendum Siemens had warned that it would delay investment decisions in the UK in the wake of the vote to leave the European Union.

The industrial giant employs 14,000 people at 13 sites in the UK.

Barrow and Furness MP John Woodcock met members of the Siemens management board at the House of Commons today where the commitment was assured.

Joe Kaeser, chief executive of Siemens AG told the meeting at the House of Commons: "The UK has contributed so much to Europe and its culture, and it will continue to be a strong influence in key areas.

"We really want Great Britain to be part of a great Europe. The Brexit vote will not diminish our commitment to your country.

"Siemens will not leave the next generation behind. We will continue to create value in the UK. We will continue to contribute to society in the UK. We will continue to do business even more than we have for the last 170 years."

Mr Woodcock said: “This is a huge vote of confidence in management and staff at Siemens’ Ulverston enterprise and great news for Furness. “There had been some uncertainty about the company’s intentions following the vote to leave the European Union, but this is the news we had been hoping for.

“I am determined to make sure that Furness has a bright economic future following Brexit, and this news, combined with the green light for the successor programme on Monday shows that we can look forward to investment and opportunity in our area for decades to come.”

Mr Woodcock has also welcomed the decision of the UK’s biggest trade union, Unite, to support the construction of four new successor submarines in Barrow in order to renew the nuclear deterrent.

The decision was passed overwhelmingly at the Unite policy conference in Brighton today ahead of the Trident renewal vote in Parliament on Monday.

Mr Woodcock said: “This is fantastic news and is a testament to the brilliant work done by local Unite officials standing up for the workers they represent. “The vote on Monday will give the final green light to the successor programme, bringing huge investment and jobs to Barrow for decades to come.

“The support of trade unions like Unite and the way our community has long come together through the Keep Our Future Afloat Campaign (Kofac) has been essential in getting to this point and I am delighted we can count on their support on Monday.”