Defense & Aerospace
Rolls-Royce announces £150 million investment in UK aerospace sector
Rolls-Royce have announced their biggest ever investment in the heart of the UK, as they pledge to invest £150 million in new and existing civil aerospace facilities in the Derby.
The substantial investment is part of Rolls-Royce’s plans to double engine production, and deliver on the organisation’s record civil aerospace order book. This aligns with the company’s ongoing industrial transformation, as it looks to provide additional capacity to develop and test the next generation of sector leading aero-engines.
Eric Schulz, President of Civil Aerospace for Rolls-Royce said on the announcement, “This investment comes at a time of unprecedented growth in Rolls-Royce. We are doubling the production of new engines at the same time as introducing three new engines to the market.”
Specific investments will be made in Rolls-Royce’s Derby large engine maintenance repair and overhaul facility, along with further manufacturing facilities around the local area.
Simon Hemmings, of the Unite Union, spoke about the benefits of the deal to local worker’s and economy. He stated, “A once in a generation type of investment and a big commitment to the UK… It’s about keeping jobs in Derby for 25 years plus and we are hoping it will bring hundreds of pounds to the city”.
Business Secretary, Greg Clark MP, spoke of the importance of the announcement to the development of the UK aerospace sector moving forward, as it looks to cement and development is place on the global stage.
Questions remain as to whether further investment will now be seen from other large organisations operating within the sector, in reaction to this recent commitment. At present, however, the investment is very much being seen as a positive announcement for all related parties and industry stakeholders.