Aero firm set for take off with £1.2m investment
A Preston-based manufacturing specialist has invested £1.2m into state-of-the-art CNC technologies as it looks to target prime opportunities in the aerospace sector.
TGM, which is part of the £43m Aero Services Global (AS.G) Group, has just completed its first parts for a MoD contract on the new equipment.
It says the investment will provide the company with additional capability to take on more than £2m of new work annually as well as allowing it to tender for work on larger structural assemblies.
Sarah Stephens, director at TGM, said the investment meant the business had the technology, processes and skills in place to work directly with aerospace’s prime contractors.
She said: “With this additional technology, we are hoping to double sales from £3m to £6m over the next two years.”
TGM, which became part of AS.G in 2016, specialises in the machining of both hard and soft metals, producing components and sub-assemblies for customers supplying Airbus and BAE Systems.
Sarah added: “It’s all about positioning TGM as a strategic critical partner to the primes and ensuring we can add value at every part of the process.
“This wouldn’t have been possible three years ago, but a combination of the investment, industry approvals and a track record of quality and delivery has paved the way.
“Covid-19 has brought its own challenges, but we feel we are in a good position to come through the pandemic and proactively establish our new position in the supply chain.”
AS.G was founded in 2015 with the aim of developing a highly specialist group, which could help a global customer base to consolidate their supply chains through innovation, efficiencies and excellent value for money.
The group, which employs nearly 380 people, is split into two core divisions focusing on aerospace and tooling, providing a wide range of products and parts.
These parts are delivered all over the world to customers, including Aeronova, Airbus, Leonardo Helicopters, GKN, ITP, Meggitt, Rolls-Royce and Spirit AeroSystems.