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.
Rebecca Evans, 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.”
