Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Nottingham Post
Nottingham Post
National
Joseph Locker

Jobs created as owner issues important update on former Rolls-Royce factory

A company formerly owned by Rolls-Royce has provided an update on its factory in Nottinghamshire after concerns were raised over the future of jobs.

Last year the Nottingham Post and Nottinghamshire Live called for jobs to be guaranteed at the historic Rolls-Royce factory in Hucknall.

The site had been transferred to Rolls-Royce's subsidiary company ITP Aero, which faced being sold off as the British engineering firm sought to reach a £2bn disposal target following significant losses due to the coronavirus pandemic.

Staff at the Hucknall site feared their jobs may not be guaranteed once under the ownership of the company which made the purchase.

And in September last year ITP Aero was finally sold to a consortium led by private equity firm Bain Capital for £1.5bn.

ITP Aero said at the time all roles transferred to the company at the Hucknall site will remain in the UK and new ownership could provide new work opportunities beyond that of Rolls-Royce.

It is understood now this has been the case, with 60 additional jobs created.

Ian Williamson, general manager for ITP Aero UK, told Nottinghamshire Live: “2021 was an important year for ITP Aero, both in terms of starting to see a recovery from the impact of Covid-19 on commercial aviation, and of course due to the integration of our Hucknall facility.

To read all the biggest and best stories first sign up to read our newsletters here.

“The integration of Hucknall has reinforced ITP Aero’s business significantly in terms of employee numbers, complimentary product portfolio and capabilities.

“Over the past year, the team in Hucknall has grown in numbers, having employed over 60 new people since the end of May 2021. The ITP Aero UK team will play a key role in the future of our business and in capturing new growth opportunities”.

A group known as 'Secure our Jobs: Formerly Rolls-Royce Hucknall' was set up to campaign for guarantees of jobs at the time.

The group says all Rolls-Royce signage is now being removed from the site.

It is also seeking to submit a new pay rise for workers.

It added: "We are currently in the process of putting in a pay claim and waiting for the company to accept it or come back with a counter offer."

ITP Aero says its revenues totalled €915m (Euros) in 2021, with a net income of €67m.

This includes both the ITP Aero business and the revenue generated, in the full year on underlying basis, by the Hucknall (UK) plant.

ITP Aero "closed 2021 with a total workforce of 4,175 employees, which includes colleagues in Hucknall," the company added.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.