Rolls-Royce boss welcomes £2bn aerospace institute plan
THE boss of Derby aero engine-maker Rolls-Royce has welcomed a £2 billion plan to create an Aerospace Technology Institute.
This morning, the Department for Business, Innovation and Skills announced plans to create the institute, which will be jointly funded by the Government and industry.
Announced as part of the Government’s Aerospace Industrial Strategy, it will be made up of a core team of between 30 and 50 staff, mainly seconded from industry and academia.
They will work together to develop technology that will build on the UK sector’s strengths and ensure that research and development investment is made in the right way to win future aircraft programmes.
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The Government said the investment will support businesses of all sizes, including many small and medium sized enterprises and it could secure up to 115,000 high value jobs in the aerospace sector and its supply chain.
Rolls-Royce manufacturers Trent engines in Derby, employing around 12,000 staff and many more in its supply chain.
Chief executive John Rishton said: “Government support for advanced engineering in the UK is very welcome.
“The Aerospace Industrial Strategy, announced today, will encourage innovation and help keep British manufacturers and the companies in their supply chain ahead of the competition.”