Finance

Gloucestershire aerospace company acquires Staverton facility


Cheltenham-based aerospace parts manufacturer Ontic has acquired rival Triumph Group’s facility in Gloucestershire for an undisclosed sum.

The 122,000 sq ft site is situated in Staverton, on the B4063 opposite Safran Landing Systems.

According to Ontic, the facility supports a range of platforms in the military, civil and marine markets including the Airbus A330, BAE Hawk and Tornado, as well as the weapon-handling systems on a variety of submarines.

The business said the deal would expand its capacity in the UK following the growth of its existing facility in Cheltenham. The company also acquired select product lines associated with the site as part of the deal.

Gareth Hall, president and chief executive of Ontic, said: “Ontic is excited at the opportunity to grow our UK presence with the purchase of the Staverton facility as part of our long-term strategy to expand the licensing solutions we are able to provide our partners across the industry.

“Not only will we be growing our business footprint with space, equipment, and product lines, but we will be welcoming 90+ talented new employees to the Ontic family, with expertise in mechanical solutions.”

Ontic has manufacturing and MRO facilities in the US in Chatsworth, California; Creedmoor, North Carolina; Plainview, New York; Cheltenham and Bolton in the UK; Singapore; and the newly added Staverton site.

The company has more than 47 years of aerospace product manufacturing and aftermarket support experience, including new and serviceable spares and repairs for over 7,000 established aircraft parts.

Like this story? Why not sign up to get all the latest South West news straight to your inbox?

Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button