New agreement assisting growth

Hampson has announced that its subsidiary, Hampson Aerospace Machining, has secured an extended agreement worth £7m per year to supply small, precision machined components at its Leicester site. Hampson Aerospace Machining  is a member of Hampson’s Aerospace Components & Structures division.

The new agreement will run until December 31, 2010 and has secured existing volumes and increased prices on certain components, as well as ensuring the recovery of potential future raw material cost increases.

Chief Executive Kim Ward said: ‘The backlog for gas turbine aero engines is at an all time global high. This contract extension demonstrates Hampson’s commitment and capacity to support our customers’ growth plans in a very strong market.’

Separately, Hampson has also announced that is has completed the acquisition of Odyssey Industries and Global Tooling Systems.