Gardner Aerospace Derby aerospace components firm has secured a £35 million loan to support its expansion plans.
The cash has been secured from the Royal Bank of Scotland (RBS).
It will use the investment to fund growth across its manufacturing sites in Basildon, Broughton, Hull, Pershore and its headquarters in Derby.
A decade ago, Gardner was a UK firm employing 1,200 people in 11 obsolescing factories and with annual revenues of £40 million ($62.4 million). Today it is an international concern, employing 200 more and delivering revenues 3 times greater.
By acquiring and then investing in small companies in France, Poland and Toulouse, Gardner was able to survive and grow as the big OEMs turned to subcontractors in low-cost economies.
The company provides the pylon plug for the Airbus A350 XWB.
Source: Aviation Week
This is made from machined parts originating in Hull, England; and some from Bangalore, India; and is assembled at Mazères, conveniently close to the Airbus plant at Toulouse. International, indeed.
Paul Noel, director of asset-based lending at RBS, said: "Gardner has grown significantly over the last 5 years and has successfully secured a number of new long-term contracts for key aircraft components.
"The newly agreed facilities will further support continued growth."
Based on the article “Derby firm secures £35m loan” published in Derby Telegraph
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