City's aerospace bosses welcome new investment
AEROSPACE firms in Derby have welcomed the Government's scheme to invest a billion pounds in the industry.
Deputy Prime Minister Nick Clegg announced the long-term funding commitment that sees the aerospace industry match the Government's investment with another billion pounds of investment.
Rolls-Royce boss John Rishton said that the funding would help keep British manufacturers and their supply-chain partners competitive.
Nick Willers, director at Spondon aerospace engineering firm Accrofab, said: "The aerospace industry and Government are working together to create the right conditions for this sector to flourish.
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"This partnership is a recognition that the aerospace industry in the UK was something of a 'jewel in the crown' and we see this announcement as an integral part of creating and sustaining an environment that protects that position."
Mr Willers believes that the effect of the investment would not necessarily be felt immediately or directly by small and medium-sized firms but that advances in technology would bring opportunities.