Bromford Industries, a supplier of parts for engines and landing gear to the aerospace industry and international gas turbine markets, has secured a £20m asset based finance package from Bank Leumi to support its continued growth and expansion.
Bromford Industries will partly use the funding to purchase new multi-tasking machines, which will support the delivery of some of its most significant customer contracts, including a ten year agreement secured last year with global aerospace giant Messier Bugatti Dowty. The $60m deal is to supply components and sub-assemblies for Messier Bugatti Dowty’s landing gear for the Airbus A350.
The multi-tasking machines each weigh 14,500kg, and comprise 5-axis mill and turn automated manufacturing capabilities. The technology enables high-efficiency and more robust machining of super alloys and exotic hard metals including titanium, which is widely used by Bromford Industries in the production of aerospace structural components.
The first machine has already been installed and is currently being used to fulfil customer orders, with further machinery expansion planned for the future, in-line with growing customer requirements.