High hopes for the future as takeover deal saves 60 jobs
AN aerospace engineering company with a base in Derby has bought a components manufacturer out of administration, saving dozens of jobs.
MB Aerospace Holdings, which has offices on Pride Park, has taken over Thomson Aero from administrators KPMG.
The deal, the cost of which has not been disclosed, has saved 60 jobs at Thomson's manufacturing facility in Frome, Somerset.
Thomson, which was founded in 1959, makes aero-engine components for a number of civil, defence and industrial gas turbines.
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Among the aircraft it makes parts for is the Eurofighter Typhoon and the Airbus A330 passenger aircraft. Derby aero engine-maker Rolls-Royce supplies the Trent 700 engine for the A330.
MB Aerospace, which supplies and repairs components for Rolls-Royce, as well as providing supply chain management services, said Thomson would now become a new division of the company, working alongside the group's other facilities in Derby, Burnley and Motherwell.
Craig Gallagher, chief executive of MB Aerospace, said: "This acquisition provides us with a range of additional complex machining capabilities and a highly skilled workforce ready to support the challenging needs of our global customers, including Rolls-Royce, Pratt and Whitney, Boeing and GKN Aerospace.
"The administration of Thomson Aero has been a challenging period for employees, customers and supplier stakeholders alike.
"However, I'm confident the acquisition provides the best solution available for all and that MB Aerospace will be able to stabilise the business and position it for future growth."
Independent forecasters expect more than 30,000 new aircraft to be delivered in the next two decades, with the total size of the airline fleet currently in service expected to more than double.
This growth is being fuelled by the rising demand for travel in Asia, coupled with the need of European and American airlines to replace ageing aircraft.
Mr Gallagher said: "As aerospace markets continue to grow due to increased demand for air and freight travel, the Thomson Aero takeover provides us with additional skills and a significantly enhanced engineering capacity to service our growing global customer base.
"This acquisition will broaden the MB Aerospace customer base and further serves to strengthen the product range offered to a number of the group's existing customers."
Before going into administration, Thomson Aero had annual revenues of around £6 million.
Allan Thomson, general manager of Thomson Aero, said: "We have continued to invest in state-of-the-art technologies and the ongoing training and development of our staff which has positioned us well for the acquisition by MB Aerospace.
"MB Aerospace recognises the quality of business built here and we're looking forward to working with the wider MB Aerospace Group to benefit from the global experience of a larger aerospace family of companies."
This deal marks MB Aerospace's second acquisition in just three months following its recent purchase of Gentz Aero, based in Detroit, in the US.
MB Aerospace now employs around 450 people.