Up to 40 new jobs are to be created in the aerospace sector in Derry with the news of a major investment in Maydown Precision Engineering.
The firm, which supplies components to manufacturers such as Bombardier, Airbus and Boeing, has secured a £2.5 million investment following the purchase of a majority share by Manchester-based venture capital firm A2E. Owner Amin Amiri said he expected the company, which employs 135 people, to grow by as much as 25 per cent per year.
“Our desire is to greatly enhance the expertise and capacity of MPE, and our vision is to surpass being a supplier and to become the strategic ‘partner’ of choice for our existing and future customers,” he said.
Maydown’s managing director Sean Phelan welcomed “a strategic and long term investor-shareholder”.
He said: “The vision and experience of Amin Amiri and his enviable track record has given the management team and workforce the vital energy to enhance our efficiency and capacity, and the confidence to plan for the long term, attract new customers and achieve MPE’s potential.”