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International aerospace and defence engineering group Meggitt PLC today announces plans to build a multi-million pound facility in the West Midlands.
The major £130m project at a new site at Ansty Park in Coventry, developed in conjunction with partners, would bring together a number of Meggitt's existing operations and represents a significant investment in the long-term future of Meggitt's UK manufacturing capability.
The facility, which would provide a base for up to 1,000 employees, strategically positions the business for future growth and will serve as a hub for the next-generation aerospace and R&D and as a catalyst for world-class operational performance.
The 440,00 sq.ft facility aims to combine a range of operations - Aircraft Braking Systems, Control Systems, Customer Services & Support and Corporate Shared Services - within a world-class aerospace engineering and technology environment.
Plans for the site including an engineering and manufacturing Centre of Excellence for future aerospace thermal management technology - already supported by the UK Aerospace Technology Institute (ATI) with a research and development award from the Department for Business, Energy and Industrial Strategy of £3.7m.
It is planned for the new facility to becoming operational by the end of 2019, following full consultation with employees and their representatives.
Tony Wood, Chief Operating Officer, said: "We are proud of our heritage, both in the UK and here in the Midlands, which has underpinned our ability to secure strong market positions on new aircraft programmes. This planned new major advances in the development of our global manufacturing footprint and strategically positions us for sustainable growth. By bringing world-class innovation and operational delivery together on this site, we will accelerate Meggitt's ability to meet the current and future needs of our customers worldwide."
Business and Energy Secretary, Greg Clark, said: "Our aerospace sector is one of the most productive in the world and Meggitt's decision to invest £130m in a new site in Coventry will deliver a huge boost both to the sector and to the West Midland's status as an internationally recognised and auto cluster."
Councillor Jim O'Boyle, Cabinet Member for Jobs and Regeneration at Coventry City Council and Coventry & Warwickshire Local Enterprise Board Member, said: "This is great news for Coventry and the region. We have a rich engineering and manufacturing heritage and Meggitt's plans are testament to the skilled people that live and work here as well as the company's ambition to grow. I'm delighted that we could offer help and support to create these new jobs in our region."
Jonathan Browning, Chair of the Coventry and Warwickshire Local Enterprise Partnership, said: "this is very good news indeed; not only because it means an international company is expanding in Coventry and Warwickshire, but also because the work which will feature at this new complex further adds to the wealth of cutting edge R&D and transport innovation happening on our doorstep.
"We have over recent times really become the Knowledge Capital of the UK, and that is something we are working hard to build on, not only with the companies already here, but those looking to invest in the region and the UK."