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15/09/2008
Business Secretary Announces Backing For UK Aerospace
News that GKN will purchase Airbus's wing component and assemblies manufacturing facilities at Filton, has been welcomed by Business Secretary John Hutton.
Part of the Airbus factory, based in south Gloucestershire, is to be sold to GKN for £136 million. The manufacturing operation, at the Filton site, makes wing components for Airbus.
The acquisition will secure GKN's position as a supplier to Airbus; create a composite wing centre of excellence at Filton; and further strengthen the UK's position as a world leader in wing design and manufacture.
It will also be seen as a major boost for the region, securing up to 1,500 jobs at Filton.
John Hutton today announced the Government has agreed, in principle, to support GKN with £60m repayable launch investment for the development of the rear spar and trailing edge for the aircraft.
Further positive news for the UK is the Department for Business (BERR) has agreed to make an additional £50m available over the next five years for research and technology to further bolster the UK's position as a leading wing supplier.
John Hutton said: "The UK's aerospace industry is world-class. This investment in Filton by Government and industry demonstrates our shared commitment to supporting high-tech, high-skilled aerospace companies in the UK to ensure we remain a world leader in this sector.
"Building on the launch of the Government's Manufacturing Strategy this week, this is a clear demonstration of how we will continue to do all we can to work with our key manufacturers to keep them at the forefront of competitive global markets."
The Business Secretary added: "This investment will help bring composite materials technology for wing design and manufacturing to GKN, adding to the company’s and the industry's existing strengths."
(JM)
Part of the Airbus factory, based in south Gloucestershire, is to be sold to GKN for £136 million. The manufacturing operation, at the Filton site, makes wing components for Airbus.
The acquisition will secure GKN's position as a supplier to Airbus; create a composite wing centre of excellence at Filton; and further strengthen the UK's position as a world leader in wing design and manufacture.
It will also be seen as a major boost for the region, securing up to 1,500 jobs at Filton.
John Hutton today announced the Government has agreed, in principle, to support GKN with £60m repayable launch investment for the development of the rear spar and trailing edge for the aircraft.
Further positive news for the UK is the Department for Business (BERR) has agreed to make an additional £50m available over the next five years for research and technology to further bolster the UK's position as a leading wing supplier.
John Hutton said: "The UK's aerospace industry is world-class. This investment in Filton by Government and industry demonstrates our shared commitment to supporting high-tech, high-skilled aerospace companies in the UK to ensure we remain a world leader in this sector.
"Building on the launch of the Government's Manufacturing Strategy this week, this is a clear demonstration of how we will continue to do all we can to work with our key manufacturers to keep them at the forefront of competitive global markets."
The Business Secretary added: "This investment will help bring composite materials technology for wing design and manufacturing to GKN, adding to the company’s and the industry's existing strengths."
(JM)
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