A Birmingham-based machining company has secured a £400,000 loan to help safeguard its 65 employees and create new positions over the next two to three years.
AE Aerospace secured the finance from the Midlands Engine Investment Fund (MEIF) - provided by The FSE Group, Debt Finance Fund and backed by the Coronavirus Business Interruption Loan Scheme (CBILS).
The company manufactures low to medium volume components for prototype through to current aircraft, including both spares and legacy parts.
The businesses' components are used on platforms primarily for civil aerospace projects, including Airbus A220, A320 and A350 as well as some defence platforms.
As well as safeguarding
link source - Insider Media