Aerospace investment welcomed

Wing component and assemblies manufacturing facilities at Filton are to be acquired by the company, in a move which will see GKN pour £150 million of investment into the site and consolidate its position as a strategic supplier to Airbus.

In addition, the investment will establish a composite wing centre of excellence at Filton and further increase the UK's position in the wing design and manufacture field.

This investment in Filton by Government and industry demonstrates our shared commitment to supporting high-tech, high-skilled aerospace companies in the UK

John Hutton

Business Secretary

Mr Hutton also announced that the Government has agreed, in principle, to give GKN a £60 million repayable launch investment for projects concerning the development of the rear spar and trailing edge for the aircraft, as well as a £50 million boost to support Airbus research new wing technology.

Commenting on the development, the Minister said: "This investment in Filton by Government and industry demonstrates our shared commitment to supporting high-tech, high-skilled aerospace companies in the UK to ensure we remain a world leader in this sector.

According to GKN, the acquisition of the Filton facility will enable it to increase its group order book for large civil aircraft structures from $4.5 billion (£2.51 billion) and balance its business across Europe and the US.