Sharing in Growth beneficiary Castle Precision has signed a contract valued at £80 million with Rolls-Royce on a six-year programme, continuing a 35-year relationship.
The new agreement is for the supply to Rolls-Royce of compressor cones, shafts, spacers, and turbine seal plates for the Trent family of aero-engines.
Yan Tiefenbrun, Managing Director of Glasgow-based Castle Precision, said: “To significantly grow our activity with Rolls-Royce, a giant in the global aerospace industry, is a privilege and a fantastic endorsement of the high-quality precision engineering work we deliver here in the UK.
“It is the biggest order in our 67-year history and the whole Castle Precision team is looking forward to furthering our relationship with this key customer, continuing to supply precision machined, critical rotatives.”
With the support of Sharing in Growth and Scottish Enterprise, Castle Precision has embarked on a business change journey that has transformed the organisation’s approach to people and productivity and delivered leaner operations. Introduction of manufacturing cells leading to major reductions in lead-time and improvements in productivity have underpinned the business’s ability to secure contracts of this scale in a globally competitive environment.
Economy Secretary Derek Mackay said: “I would like to extend my congratulations to Castle Precision on securing this contract with Rolls-Royce. This is a really fantastic achievement by a Scottish company and the economic benefits of this contract will be far reaching.
“Through our enterprise and skills agencies, the Scottish Government has been pleased to support this company to achieve its growth plans. I look forward to hearing more about the company’s success as it grows and flourishes in the aerospace sector.”
John Fitchett, Strategic Purchasing Executive, Rolls-Royce, said: “We are continuing to see increasing demand for our Trent engines worldwide and suppliers with the right skills and performance, such as Castle Precision, have an important part to play in supporting our growth story. We look forward to continuing to work with Castle Precision and building on a well-established relationship.”
Castle Precision employs 120 people and manufactures high precision critical gas turbine components for the aerospace industry as well as complex prismatic parts for the defence industry.
The company was selected for the Sharing in Growth programme in 2013. Sharing in Growth is the aerospace business transformation programme, set up by industry in 2013 and supported by the Regional Growth Fund and more than £150 million in private investment. It is endorsed by Airbus, BAE Systems, Boeing, Bombardier, GE, GKN, Leonardo, Lockheed Martin, MBDA, Rolls-Royce, Safran and Thales because it is helping the UK advanced manufacturing supply chain to become more competitive and win a larger share of global aerospace contracts.
Said Sharing in Growth CEO Andy Page: “We are delighted with Castle’s success. Their sales have risen from £15 million in 2016 to a forecast £25 million next year. They truly exemplify why the Sharing in Growth programme is effective. We are helping some 60 aerospace companies, like Castle, beat the productivity challenge. By investing in business transformation companies make productivity and competitiveness gains to win more business. This gives them the funds to reinvest in people, technology and growth so that they win even more business. It’s a virtuous cycle.”