Funding deal underpins Martin’s Rolls-Royce agreement
Flying high: Lorna Gourlay and Anne Clyde
Aircraft components manufacturer Martin Aerospace has secured a six-figure long-term agreement with Rolls-Royce.
The Lanark-based company makes precision parts for aeroplanes, helicopters and spacecraft and recently struck a three-year agreement Rolls-Royce after UK Steel Enterprise (UKSE) helped it to acquire equipment.
UKSE, a Tata Steel subsidiary, 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 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 machined components, such as engine fastenings, crankshafts and complex assemblies to the aerospace market.
Lorna Gourlay, finance director, said: “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.”