Five UK aerospace companies are to form a joint venture, to market their products to North American airframe manufacturers, as part of an UK Government initiative to boost exports by smaller concerns in the aviation sector.
Aerospace Systems and Technologies, the Aircraft Research Association, BP Chemicals Advanced Materials Division, Chevron Aerospace and Intelek signed a memorandum of understanding on 1 May, becoming the first of what the UK's Department of Trade and Industry (DTI) hopes will be several similar ventures, which target various sectors of the North American aerospace industry.
The manufacturing and research companies involved in the new operation will focus on selling to airframe manufacturers, but Russ Taylor, the DTI executive behind the creation of the scheme, says that similar ventures are also being formed to tackle aero-engine manufacturers and airline operations in the region. If the initiative is a success, Taylor is considering expanding the scheme to other areas of the world - particularly Asia.
The DTI is providing some of the cash and the legal expertise required to get this, as yet unnamed, joint venture off the ground. The idea behind the scheme is to get small, high-quality UK aerospace companies to pool their resources to mount a permanent marketing operation in North America. The new company is expected to set up an office, probably in Atlanta, Georgia, later this year.
Source: Flight International
