A South Lanarkshire aerospace company has secured a six-figure long-term agreement (LTA) with Rolls Royce.
Martin Aerospace, manufactures precision parts for aeroplanes, helicopters and spacecrafts.
The Lanark-based business recently struck a new three-year agreement with the global brand after UK Steel Enterprise (UKSE) helped it to acquire new equipment.
UKSE, a Tata Steel subsidiary furthering economic prosperity in traditional steel producing areas, has provided long-term financial support to Martin Aerospace, including £140,000 in the past year for investment in new technologies and equipment, such as five axis CNC machines which enabled greater productivity improvements.
With access to the latest cutting-edge equipment, the firm undertook an expansion programme, seeing a 22% increase in its workforce. It now employs 80 staff including apprentices.
Following the expansion, Martin Aerospace and Rolls Royce agreed to renew their existing LTA, securing a further three-year agreement.
Martin Aerospace was founded 25 years ago and supplies thousands of different quality-critical machined components, such as engine fastenings, crankshafts and complex assemblies to the aerospace market.
Lorna Gourlay, finance director at Martin Aerospace said: “We are delighted to enter into a new LTA with Rolls Royce. We have a long-standing relationship as a supplier to Rolls Royce and believe the new LTA recognises the energy and commitment we provide to our customers and aligns well with our business strategy of increasing turnover to £20 million within the next five years.
“Without the continued help from UKSE, we would have been unable to support the rapid expansion; having its backing has been paramount to our growth.”
Anne Clyde, regional manager at UKSE said: “Martin Aerospace is a truly innovative business doing some incredible things. We are proud to be a part of its journey and excited to see what it delivers in the coming years.”
For more information on funding opportunities with UK Steel Enterprise visit: UK Steel Enterprise