A Swiss company is set to expand its manufacturing operations in
Newport as part of a deal with a leading technology company in
the aerospace and defence sector.
Cicor Group has entered into a strategic supply agreement with a
leading technology company active in the global aerospace and
defence industry and has chosen to transfer a significant part of
production to its site in Rogerstone, Newport.
The initial five-year contract further strengthens Cicor's market
leadership in the European aerospace and defence industry and is
expected to increase Cicor's turnover by a mid-range double-digit
million-pound amount.
It will increase the proportion of aerospace work at the Newport
site from 5 per cent of output to 25 per cent, creating a number
of jobs initially, with the potential for more in the future.
, the Cabinet Secretary for
Economy, Energy and Planning, met with Cicor at the DSEI UK event
held in London, in September.
The Cabinet Secretary said:
“Cicor's expansion in Newport is exactly the sort of inward
investment we are looking to attract at our international
Investment Summit at the ICC Wales next week.
“Wales is a dynamic and future-focused nation and we are
committed to working with businesses to create the right
conditions and opportunity for growth, investment and job
creation.
“We boast world-class capabilities in the defence and aerospace
sectors and Cicor's expansion will provide further well-paid jobs
for skilled professionals in this high-tech industry.”
Head of Operations at Cicor in Newport, Lee Harrhy, said:
“This investment brings with it new technology and new jobs,
increasing the aerospace and defence manufacturing operation here
at Newport. It also strengthens Cicor's position as a leading
pan-European aerospace and defence manufacturer for the sector.”
