A Wales-based aircraft engine support company has opened a new facility in Bedwas to service its rapidly-growing global customer base.
AerFin, which was set up by Bob James in 2010, was previously based across two sites in the Welsh capital, with an office in Caspian Point and a warehouse on Foreshore Road, both in Cardiff Bay.
The new move – part-financed with a Welsh Government grant – means they now have all of their aircraft disassembly services on one site, providing storage, warehousing and parts distribution.
To celebrate the official opening of the facility, Edwina Hart, Minister for Economy, Science and Transport, visited the site to see for herself how the Welsh Government investment had made a difference.
The Minister said: “Supporting businesses like AerFin to help them grow and create new jobs is a key priority for the Welsh Government and I’m pleased to see this is exactly what has happened. In spite of difficult trading conditions it’s great to see Welsh businesses continuing to invest and innovate and I am delighted to celebrate this success.”
AerFin’s Managing Director, Bob James, said: “Since setting up the company in 2010, it has gone from strength to strength and this is the next step in our ambitious growth plans. I believe that the new facility offers a great opportunity for AerFin and I am excited to see how the company develops going forward.
“Consultancy and engineering technical services remain a core focus of the business, attracting a global client base keen to take advantage of expertise that we bring to our programmes.
“We are extremely grateful to the Welsh Government for their investment, which has helped us establish ourselves in this new, state-of-the-art facility.”
AerFin offers a broad scope of specialist engine support services for some of the world’s largest aircraft manufacturers. It also provides specialist management services, primarily focusing on distressed assets requiring innovative and intensive technical and commercial risk management solutions.
Over the past 12 months, the AerFin team has been involved in such projects as the TU204 aircraft in Egypt, the purchase and disassembly of A340 aircrafts and sale of CFM56-5C4/P engines, the liquidation of Boeing 767 aircraft and CF6-80C2 engines and a significant Boeing 747-400 and RB211-524GH-T programme.
Established in 2010 by Bob James, former owner of TES Aviation Group, AerFin Limited has been largely equity funded with group turnover in excess of $20M expected for 2014. The company has developed a niche product range of services with a valuable team of experienced staff supporting aviation investment asset management.