ITP Aero launches a global plan for technological and industrial growth

Bizkaia, News

ITP Aero will build a new R&D centre on the Zamudio-Derio Campus of the Basque Technology Parks, dedicated to research into advanced manufacturing technology.

The global workforce reaches 4,700 employees by the end of 2022 (+8% increase) and similar growth is expected in 2023.

The announced plan is part of ITP Aero’s strategy to reinforce its leadership as an independent company in the global aeronautics market, increasing its production capacities, its global industrial footprint and its own technology development capabilities to lead the change towards a sustainable aeronautics sector. In doing so, ITP Aero will accelerate its growth trajectory, under Bain Capital-led ownership, with record capex investment and the launch of numerous growth initiatives.

As part of its growth plan, ITP Aero today announces a new R&D centre to be located at its headquarters in Zamudio (Bizkaia). The new R&D centre represents an investment of 24 million euros and 120 highly specialised jobs. The new centre is expected to be operational in the second half of 2024. The new R&D centre, which will be designed to the highest sustainability standards, will focus on the digital and advanced manufacturing technologies needed to produce the products demanded by the aero engine market, in line with ITP Aero’s commitment to sustainable aviation. The R&D centre will also support dual technology, such as that needed to develop the FCAS programme, in which ITP Aero is the leading Spanish company in the engine pillar.

This announcement comes at a time of gradual recovery of the industry after more than three years of severe impact caused by Covid-19. With the opening up of air transport, passenger traffic is now showing a clear recovery – full recovery is expected by 2025 – and this translates into a gradually increasing demand for more efficient aircraft and engine production.

During this time, ITP Aero has continued to invest in its industrial capabilities across its various global plants, such as the recent investments made in Zamudio to support the production of new products, including engine structures and NGVs (nozzle guide vanes) for Trent engines, as well as complex fabrications in its Externals business area.

With the support of the new shareholder, the company will invest heavily in the Spanish ecosystem by growing all of its sites to support expected demand growth. The plan includes investments in fades, a product that is currently in high demand in the market. In this line, ITP Aero plans to invest €10m to continue improving its PCB plants in Barakaldo and Sestao, in order to increase the operational capacity of both centres. The company’s facilities in Querétaro (Mexico) will continue to grow its engineering and manufacturing activities, and will start up a new foundry activity. ITP Aero will also continue to expand its MRO (engine maintenance) activities to support in-service engine operations.

In 2022, ITP Aero’s global workforce increased by 8% to 4,700 employees (+370 people). By 2023, the company expects to continue to grow its global workforce at a similar pace to 2022.

Carlos Alzola, CEO of ITP Aero, commented: “Under our new ownership and in a growing market context, we are entering a new phase of profitable and quality growth that will reinforce our leadership in the aeronautics sector at European and global level. As an independent company, we are now in a unique position to leverage our excellent capabilities and increase our customer reach. I would like to thank everyone at ITP Aero for creating a great company; this plan is the result of all our hard work over the last few years. We are preparing to lead the technological advances that will shape the future of our industry.

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