Rolls-Royce has announced it is to invest £150 million over the next four years in new and existing civil aerospace facilities across the East Midlands.
The majority of the investment will provide a new facility for testing large civil aero engines in Derby.
The Trent XWB engine, which powers the Airbus A350 XWB, will be tested in the region. The Trent XWB is the world’s fastest selling civil large engine with over 1,600 on order from 45 customers in 31 countries.
The company is also investing in its Maintenance Repair & Overhaul facility in Derby, as well as its manufacturing facilities in Derby and Hucknall in Nottinghamshire.
A decision to close the Precision Machining Facility in Derby has also been reversed.
The investment is said to sustain more than 7,000 jobs at Rolls-Royce across the East Midlands.
This investment comes at a time of unprecedented growth in Rolls-Royce. We are doubling the production of new engines at the same time as introducing three new engines to the market. With this investment, we are creating the capacity and flexibility to deliver on our goals, while committing to sustain employment in the UK and I would like to thank the unions for their support in delivering this important package of investment.
This announcement underpins the critical role the UK plays within the global aerospace sector. The UK and Rolls-Royce are known throughout the world as pioneers of advanced engineering technology. I welcome the confidence the company is showing in the UK. This is just the type of investment our modern Industrial Strategy is looking to attract. These new facilities are good news for Rolls-Royce, its UK suppliers and our economy.
This is a great news story that allows us to focus on the future rather than the past. The agreement we’ve reached shows how companies and trade unions can work together differently to deliver the investment and productivity improvements needed to secure the success of a business for the next generation.