Grafico Azioni Meggitt (LSE:MGGT)
3 Mesi : Da Ott 2019 a Gen 2020
Meggitt PLC, an international company specializing in high-performance components and sub-systems for the aerospace, defense and selected energy markets, plans to significantly increase its commercial and military aircraft carbon brake manufacturing capacity at the 190 Corporate Drive facility in Danville, KY. The expansion will create up to 83 full-time jobs with a nearly $82.7 million investment. Ground breaking ceremonies were today with several federal, state and local elected officials and their representatives present.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191114005892/en/
Meggitt leadership breaks ground with federal, state and local government partners. (Photo: Business Wire)
The project will allow the company to fulfill increasing orders following recent contract awards for braking systems. The facility already provides braking components for a number of customer programs, including the Airbus A220 and A321, as well as for Embraer, Gulfstream, Dassault and Bombardier. The new facility also will serve as an MRO hub to meet rising demand for aircraft maintenance. The 95,000-square-foot expansion would include new carbon furnaces plus ancillary equipment, as well as upgrades to existing machinery.
“Our order book has grown substantially in recent years and we are also witnessing a significant increase in carbon brake demand. It is a trend that is set to continue and this investment is an essential part of our future strategy,” said Brian Bondarenko, president of Meggitt Braking Systems. “Investing in Danville is a natural choice for us. We have been operating here for over 14 years and we continue to increase capacity. Danville gives us ready access to a rich talent pool and skilled employees, through this investment we hope to increase our workforce over time.”
Sen. Rick Girdler, of Somerset, expressed gratitude to everyone involved with making the project possible. “I want to congratulate Meggitt for this major investment affording them 83 new jobs,” Sen. Girdler said. “Thank you to all those involved for prioritizing continued expansion, growth and job creation here in the Danville community.”
Rep. Daniel Elliott, of Danville, thanked the company for the job creation and continued growth. “This announcement is very exciting news for our local economy, as Meggitt’s expansion will add to their already strong presence in Boyle County,” Rep. Elliott said. “As Kentucky’s number one export, the aerospace industry continues to thrive and employ more of our citizens, including right here in Danville. I want to thank Meggitt for their investment and confidence in our community and workforce, and look forward to seeing their creation of 83 new, quality jobs.”
Danville Mayor Mike Perros said the company has been the ideal corporate partner. “The greatest compliment that an existing industry can pay to its home community is to reinvest. Meggitt has done so time and again,” Mayor Perros said. “We appreciate the continued confidence that Meggitt has expressed in Danville with this major expansion. Our community stands ready to support Meggitt, its management and its employees as it grows with us.”
Boyle County Judge-Executive Howard P. Hunt III said the company is a shining example of the type of success aerospace companies can have in Kentucky. “Meggitt’s rate of growth in Boyle County since 2006 has been remarkable. The company’s increased operations have put our community at the forefront of Kentucky’s aerospace industry,” Judge-Executive Hunt said. “We welcome this significant new phase of Meggitt’s expansion in our community. Aviation is a critical aspect of Boyle County’s economy, and Meggitt’s investment demonstrates that our community is the right location for aerospace businesses to take flight.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $1.4 million in tax incentives based on the company’s investment of $82.68 million.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191114005892/en/
Ed Boquist email@example.com 202-415-3377