East Midlands Freeport’s Post

Melrose Plc profits double on rebound in air travel Melrose Industries, the former UK turnaround specialist now focused on aerospace, reported a doubling of annual profits and upgraded its outlook for the coming year as the resurgence in air travel drove orders. The FTSE 100 group said its aerospace business recorded operating profits of £420mn for the year to the end of December 2023, up from £186mn. Pre-tax profits were £331mn, up from £62mn. Driven by the risk and revenue sharing engine business model, more than structures Revenue was £3.3bn, up from £2.9bn the previous year. Shares in the company have soared more than 85 per cent over the past year during a global boom in aviation after the Covid pandemic. Melrose’s GKN aerospace business is a leading supplier of airframe structures for Airbus and Boeing, as well as engine components. https://lnkd.in/e-ZhwvE7 Visit the website to learn more https://lnkd.in/eTeci7wi! #aerospace #MelroseIndustries #GKNAerospace #annualresults #growthpotential

Boeing's potential acquisition of Spirit AeroSystems represents a strategic move to address quality lapses and stabilize its supply chain. This acquisition would allow Boeing to regain control over its former aerostructures unit, which has been at the center of numerous quality issues affecting the 737 Max airliner. The decision to bring Spirit AeroSystems back under Boeing's umbrella comes at a critical time for both companies, as they face intense scrutiny over recent production faults and quality control challenges. For Boeing, acquiring Spirit AeroSystems presents an opportunity to address the problems that have plagued its key supplier and potentially enhance its supply chain resilience. However, the acquisition could also pose challenges, including added pressure on Boeing's management team and financial implications. On the other hand, for Spirit AeroSystems, being acquired by Boeing could provide much-needed stability and support in addressing its financial struggles. Overall, this potential acquisition underscores the importance of robust supply chain management in the aerospace industry. It highlights the interconnectedness of companies within the supply chain and the critical role of quality control in ensuring the safety and reliability of aircraft. The outcome of these discussions will not only impact the future of Boeing and Spirit AeroSystems but also have broader implications for the aerospace sector as a whole. #SupplyChainManagement #AirplaneManufacturing

✈️ ASG Group Secures Largest-Ever Order Book: Live From Farnborough International Airshow ! In a landmark announcement, ASG Group, the global aerospace manufacturing conglomerate headquartered in Manchester, has unveiled its largest-ever group order book, marking a significant milestone in the company's history. The multi-million-pound orders, facilitated through collaborations with major global aerospace OEMs, signify a significant growth for the group in both single aisle and long range platforms. "The announcement of our largest-ever order book underscores the effectiveness of our extensive investment program across all eight of our divisions. Our commitment to advancing our technology, enhancing our manufacturing capabilities, and fostering innovation has driven this record growth" states Group Managing Director, Simon Weston Read the full story here! https://shorturl.at/CuM8n #FIA2024 #FIA24 #FIA #FarnboroughAirshow #FarnboroughInternationalAirshow #AerospaceInnovation #aviationindustry #aerospacetechnology #UKIndustry #aerospaceindustry #aerospaceindustries #aerospacemanufacturing #ASGGroup #aerospaceengineering #advancedmanufacturing #ASGAerospace #advancedengineering #ukmanufacturing #ukengineering #manufacturingindustry #manufacturinguk #engineeringuk #ukmfg

A leadership change has planted Boeing straight in the crosshairs of the press again 👉 https://lnkd.in/emM7YcYy . When acquiring McDonnell Douglas in 1997, Boeing's focus shifted from being a leader in aviation engineering to maximizing earnings. Cost cutting and upgrading existing aircraft to compete on the margin became core to the business's way to compete. Then in 2001 Boeing's HQ moved from it's original home in Seattle to Chicago. (to gain $60 million in state tax credits over 20 years) This move separated all the corporate execs at Boeing from the engineers and product development team and subsequently alienated a large part of the existing business. Graph below shows dwindling CapEx over the last couple of decades with cash instead being used to keep shareholders happy by paying dividends and supporting the stock's price. #Boeing #Leadership #CapexReduction #Aerospace #CorporateStrategy #Culture #AviationIndustry #BusinessManagement #AerospaceEngineering #CorporateGovernance #IndustryAnalysis #investing #

Consequences of #Executives dismissing corporate #CoreCompetency. #PublicTrust, #Engineering, #Quality and #PublicSafety in the #AerospaceIndustry. “#Boeing‘s decades-long effort to juice its #SharePrice and maximize its #ShortTermrProfits by undervaluing its traditions of superb engineering and rigorous quality control has #failed by turning it into a corporation that makes neither money nor trustworthy products.” #737MAX #KC46 #Pegasus #Starliner https://lnkd.in/g_i-8ZwQ

Simon Weston, Group Managing Director of ASG Group pictured below, reflects on what he loves about manufacturing: "In simplest terms, the challenge to take a raw material and give it form to the exact specifications, for safety critical components - for world class customers - at the right time, at the right price, wherever in the world it is required, is the adventure that is manufacturing in the global aerospace supply chain." "If we believe what we read in the media, you'd think the UK doesn't make anything any more but here in the UK, we're the second largest aerospace economy in the world for a reason. This is why we continue to grow and invest in the ASG Group - to have the best companies, the latest equipment, employing the best engineers. Across 8 sites with 450 employees, with more than 150 CNC machine tools, so ultimately, we're PROUD to be on standby to help world class manufacturers like Rolls-Royce, Spirit AeroSystems, Airbus, Leonardo Safran Collins Aerospace and BAE Systems achieve their goals and push the frontiers of possibility together - and its all done right here in the UK." Tell us, why do you love manufacturing? Visit us here: https://rb.gy/4rd13i #manufacturing #manufacturingindustry #aerospace #aerospaceengineering #aerospaceindustry #defenceindustry #defencetechnology #investing #ukmfg #ukmanufacturing #ukmanufacturer #madeinbritain

𝐀𝐢𝐫𝐥𝐢𝐧𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐋𝐞𝐚𝐝𝐞𝐫 𝐒𝐩𝐚𝐫𝐤𝐬 𝐑𝐞𝐧𝐞𝐰𝐞𝐝 𝐂𝐨𝐧𝐟𝐢𝐝𝐞𝐧𝐜𝐞 𝐢𝐧 𝐁𝐨𝐞𝐢𝐧𝐠’𝐬 𝐓𝐫𝐚𝐣𝐞𝐜𝐭𝐨𝐫𝐲! As the largest commercial airline manufacturer in the world, Boeing holds an irreplaceable position not only within the aviation industry but is also a cornerstone of global trade and economic stability. Boeing has strongly bounced back from recent challenges. United Airlines CEO Scott Kirby’s recent meeting with Boeing’s new CEO, Kelly Ortberg, has created a new wave of optimism about Boeing’s trajectory. Kirby expressed renewed confidence in Ortberg’s ability to lead Boeing, emphasizing his engineering background and commitment to cultural transformation. Ortberg’s industry experience, particularly from his time at Rockwell Collins, where he contributed to major programs like the Airbus A350 and Boeing 787, positions him well to navigate Boeing through regulatory and operational hurdles. Boeing’s success is intertwined with the health of our economy and the future of global aviation, and its recovery is not just a company matter; it's a national priority. 𝐒𝐅𝐀 𝐛𝐞𝐥𝐢𝐞𝐯𝐞𝐬 𝐭𝐡𝐚𝐭 𝐁𝐨𝐞𝐢𝐧𝐠’𝐬 𝐟𝐮𝐥𝐥 𝐫𝐞𝐜𝐨𝐯𝐞𝐫𝐲 𝐰𝐢𝐥𝐥 𝐡𝐚𝐩𝐩𝐞𝐧 𝐪𝐮𝐢𝐜𝐤𝐥𝐲! 𝐎𝐮𝐫 𝐟𝐢𝐫𝐦 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭𝐬 𝐚 𝐬𝐭𝐫𝐨𝐧𝐠 𝐮𝐩𝐬𝐢𝐝𝐞 𝐦𝐨𝐯𝐞𝐦𝐞𝐧𝐭 𝐨𝐯𝐞𝐫 𝐭𝐡𝐞 𝐧𝐞𝐱𝐭 𝟔 𝐭𝐨 𝟏𝟐 𝐦𝐨𝐧𝐭𝐡𝐬 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐮𝐥𝐝 𝐦𝐨𝐯𝐞 𝐭𝐡𝐞 𝐬𝐭𝐨𝐜𝐤 𝐩𝐫𝐢𝐜𝐞 𝐮𝐩 𝟑𝟎% 𝐭𝐨 𝟓𝟎% 𝐟𝐫𝐨𝐦 𝐜𝐮𝐫𝐫𝐞𝐧𝐭 𝐥𝐞𝐯𝐞𝐥𝐬! ✈️ #Boeing #Aviation #EconomicStability #UnitedAirlines #GlobalTrade ++++ For regular market insights, tips, and important retirement planning information, follow us right here and join our email list at: https://loom.ly/T5bkz28 ++++ -See the full list of disclosures at bit.ly/3ImVwjZ

Supplier to Boeing and Airbus warns against break-up of Northern Ireland facility Dismantling Spirit AeroSystems’ Belfast operations would harm region’s aerospace industry, says UK chair. As discussions evolve around the potential sale of Spirit AeroSystems’ operations in Northern Ireland, concerns rise about the impacts on the region’s aerospace industry. Sir Michael Ryan, chair of Spirit’s UK subsidiary, strongly advocates for keeping the Belfast operations unified to avoid disruption and support long-term success. With Boeing considering reintegration of Spirit, and Airbus expressing intentions to maintain their collaborations, the decisions made now will set pivotal industry precedents. How do you think this will affect the competitive dynamics in aerospace manufacturing? The head of Spirit AeroSystems UK has warned the potential break-up of its Northern Ireland operations in the event of a sale would be “extremely detrimental” to their future and the region’s aerospace industry. The fate of Spirit’s Belfast operations is unknown after Boeing said in March it was in talks to buy the troubled US aerospace supplier it spun off nearly 20 years ago. Sir Michael Ryan, who chairs Spirit’s UK subsidiary, wrote to local stakeholders that “any dismantling of the business would be extremely detrimental to the long-term future of the Belfast business, and by extension, the region’s aerospace industry”. “We firmly believe maintaining the Northern Ireland operations as a single entity is the best option in any proposed acquisition,” Ryan added in the letter, which was sent at the end of April, a copy of which has been seen by the Financial Times. Boeing is under pressure to shift more of its production in-house after the fuselage section of one of its aircraft blew out in mid-air. Spirit supplies Boeing with the fuselages for its 737 Max aircraft and both manufacturers are undergoing an audit by America’s aviation safety regulator. The talks have become complicated, however, as Spirit seeks to offload the work it does for Boeing’s European rival Airbus, notably at Belfast but also at a site in Scotland and in the US. Guillaume Faury, Airbus chief executive, said last month the company was in early-stage talks with Spirit about the work it does for the plane maker. “We would not want our important work packages to be procured from our main and almost sole competitor,” said Faury.

F___k up a company and then take the golden parachute. If you want to see why American business is so corrupt, here is a perfect example. I am not sure Culp is the answer. He solved a financial problem at GE and he did well running Danaher, but this is a cultural problem, reverse the McDonnell Douglas profit first approach and re-establish the technical culture that made Boeing what it was, a model engineering company.

Here are the manufacturing stories you should know about today, 31 July, all rolled up into one easy to digest article 👇 - Britvic plc realises nine per cent production increase through digital transformation - Ampleforth College students retain International Youth Rocketry Championship title for UK - Airbus reports Half-Year (H1) 2024 results - Babcock International Group accelerates future talent with the Institute of Mechanical Engineers - Thurston Group Limited sets industry standard for fire safety and sustainability with £250k investment - Sports seat manufacturer RECARO Automotive files for bankruptcy - New survey reveals nearly half of England’s SMEs don’t know that Simpler Recycling will impact their business Read more here: https://lnkd.in/gJgcekFi #ukmfg #ukmanufacturing #shoutaboutukmfg #supportukmfg