Rolls-Royce will invest £150m at aerospace sites around the country, including those in Nottinghamshire, safeguarding 7000 jobs nationally.
The engineering manufacturing firm today (June 29) announced its plans to double engine production and develop additional facilities to test future aero engines.
The company says it will invest in its manufacturing facilities in Hucknall and Annesley, Nottinghamshire, and it is thought around 1,000 jobs will be safeguarded in the county.
Rolls-Royce currently employs around 880 people in Hucknall and 100 in Annesley.
The investment is set to made made ‘over the next few years’ and the majority of the investment will fund a new facility to test large civil aero engines in Derby, where the company’s civil aerospace division is based.
Eric Schulz, president of Rolls-Royce’s civil aerospace business, said the investment comes at a time of ‘unprecedented growth’ for the company.
He added: “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.”
Simon Hemmings, Unite Union Chief Staff Negotiator for Rolls-Royce’s Derby and Hucknall sites, said the investment will “secure the success of a business for the next generation”.
The proposed new testing site in Derby will test engines including the Trent XWB, which powers the Airbus A350 XWB, the world’s fastest-selling civil large engine.
The company says it has met with unions and the money will safeguard more than 7,000 jobs across the East Midlands.
Business Secretary Greg Clark MP added: “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.”
Rolls-Royce currently employs around 22,300 people in the UK, across a range of skilled jobs, including more than 600 apprentices.