FYLDE coast aerospace engineers Kilgour look set for expansion after securing £1.4m funding.
The firm which makes hi-tech parts for aircraft engines and brakes systems employs more than 60 staff.
Founded by the Kilgour family in 1996, it also makes small parts for almost all of the Boeing and Airbus programmes.
The cash has come from Santander Corporate Banking and will be used to provide Kilgour with additional working capital to assist with its continuing expansion. It will also support the company’s plan to relocate to bigger premises in the future.
In 1998, the company set up its own metal treatments division – Kilgour Metal Treatments Ltd – to allow it to make and coat components in-house to improve efficiency and maintain tight control over production for critical parts.
Kilgour Metal treatments was one of the 22 North West companies to be granted a share of the third tranche – £88m – of the Government’s Regional Growth Fund last month.
Ray Kilgour, CEO at Kilgour Industries based in Thornton, said: “We are absolutely delighted to have come to an agreement with Santander.
“Despite the difficult times, we are confident and ambitious about the future and thrilled that Santander will be there to help us going forward.”
Phillip Roscoe, relationship director for Santander Corporate Banking, said: “The Kilgour family business is an excellent example of a strong local, Lancashire business. They offer a truly world-class service, and have developed strong links with the global aerospace industry.
“We are delighted to be able to help them with this latest funding and excited about building our relationship in the weeks to come.”
Mr Kilgour added: “Phillip and the rest of the team have taken the time to understand our business, our ambitions and our philosophy and have created a financial package that will help us considerably.”