NatWest Supports NP Aerospace with Multi-Million Pound Funding Package

Strategic Insights -

NatWest Group has announced a multi-million pound funding package to support NP Aerospace, a Coventry-based defence manufacturing business, in its bid to grow its global export business. The funding facility, which includes a Trade Finance Facility backed by UK Export Finance and capital investment facilities from Lombard, will enable NP Aerospace to further expand its exporting capabilities and create new jobs. NP Aerospace, which employs 380 people across its global facilities, 300 of which are in the UK, is ambitious about its future growth and has recently expanded its operations through an acquisition of certain assets of Jankel Armouring Limited.

Key Takeaways:

  • NP Aerospace is expecting to create new jobs as a result of the funding package, which includes a $millions investment to grow its global export business.
  • The business has operated in Coventry for approaching 100 years and employs 380 people across its global facilities, 300 of which are in the UK.
  • NP Aerospace recently expanded its operations through an acquisition of certain assets of Jankel Armouring Limited, enhancing its portfolio to include tactical vehicles, civilian armoured vehicles, armour technologies, seating systems, and through-life support services.
  • NatWest's CEO, Robert Begbie, visited NP Aerospace to learn more about the business, its expansion, and its impact on the local economy, highlighting the bank's support for defence sector customers.
  • Will Davis, Chief Financial Officer at NP Aerospace, praised NatWest for being "extremely proactive and responsive" and for having "incredibly knowledgeable about the defence industry and how it operates".
  • Will Jones, Relationship Director at NatWest, stated that "NP Aerospace is building a sustainable business which will continue to support the defence industry for many generations to come".

Statistics:

  • NP Aerospace employs 380 people across its global facilities, 300 of which are in the UK.
  • UK Export Finance has backed the Trade Finance Facility as part of the funding package.
  • Lombard has provided capital investment facilities as part of the funding package.
  • NP Aerospace has been operating in Coventry for approaching 100 years.
  • The business has recently acquired certain assets of Jankel Armouring Limited to enhance its portfolio.

Sources:

  • NatWest Group
  • Contify.com