£3 million expansion in Denroy due to Aerospace growth
Denroy Plastics plan to create 32 new jobs in a new expansion to their Bangor plant.
The £3 million investment will aid the business as sales within the Aerospace sector hit a third of overall production.
Denroy Finance Director Kevin McNamee said:
“Currently the business is fairly evenly spread at around a third with the hairbrushes, a third aerospace and a third other. We want to see aerospace at 55 percent by the end of 2017.”
Denroy has supplied parts to aerospace manufacturers for over 20 years and hope to grow further by 2017, largely due to the supply of parts for Bombardier’s CSeries jets.
By maintaining a positive relationship with Bombardier in Belfast, Denroy have helped them to develop a system for creating a lightweight, yet strong plastic.
This has also led to contracts at other Bombardier sites worldwide and with other aircraft manufacturers, the largest client of which is currently Airbus.
Around half of the investment will be used to expand Denroy’s existing premises within Balloo Industrial Estate in Bangor, with the remainder being used towards creating jobs and adding plant and equipment.
The expansion is backed by £400,000 from Invest NI and will bring staff numbers at Denroy to more than 150.
Kevin McNamee has said:
“It will be 1,200 square metre expansion of the factory. Much of the plant equipment has already been purchased.”
Denroy’s Managing Director, John Rainey said:
“The aerospace sector is an important market for us and we are enjoying increased success in winning new business, evidenced recently by our multi-million pound deal with Triumph Aerostructures based in Texas.”
Jonathan Bell, Enterprise Minister said the expansion: “marks a step change in the company’s ambition to grow sales within the international aerospace sector.”
“The 32 new jobs to be created by 2017 will provide valuable employment opportunities to work with cutting edge technology and generate almost £600,000 annually in additional salaries for the Northern Ireland economy.”
“Invest NI has worked closely with the business over a number of years and its support with this expansion will ensure that Denroy Plastics has the capabilities and resources to thrive and grow. Denroy’s sustained commitment to market-led innovation will benefit the company as it seeks to compete for new and innovative business opportunities on a global stage.”
The Denroy Group has been moulding plastics since 1972, building on the success of the Denman hairbrushes, which are now world famous.