Coventry aerospace firm eyes turnover hike following property deal

A COVENTRY manufacturing firm which supplies parts to the aerospace industry plans to substantially increase productivity and double turnover following a six-figure property deal.

It has bought an 18,000 sq ft office and factory complex on Bayton Road Industrial Estate – adjacent to the business’s two existing premises – which it intends to renovate.

Arrowsmith Engineering manufactures bespoke components for aerospace clients – handling metals including titanium and magnesium.

The business currently employs 50 staff and has a turnover of £4m.

Looking to purchase additional premises as part of its growth strategy and increase headcount, Arrowsmith Engineering’s managing director Jason Aldridge approached NatWest to secure a six-figure loan.

Additional funding has been provided by Coventry City Council and the Green Bridge Supply Chain Programme.

Six new graduate and engineer roles are also being created within the next year.
Aldridge, who is also chairman of the Coventry and Warwickshire Aerospace Forum, said: “As part of the global aerospace supply chain, we are competing with the best engineering firms in the world.

“Because of this we need to prove to our customers that we have the capacity to grow with them and can meet their exacting requirements.

“Buying new premises is a massive boost for us and sends out a clear message that we mean business. It also shows huge commitment to our staff.”

Arrowsmith is targeting annual turnover of £8n within the next four years.

Ann Marie Swift, senior relationship manager for NatWest, said: “We are proud to be a part of Arrowsmith Engineering’s continued growth and look forward to supporting the company with their future plans.”

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