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ITP’s Strategic Plan confirmed following the acquisition by Rolls-Royce

  • ITP Aero updates its brand.
  • Josep Pique to join the ITP Aero Board as Chairman.

Following Spanish Government approval of Rolls-Royce's acquisition of the remaining 53.1% stake in ITP, previously owned by SENER, from now on the Spanish company will be part of the Rolls-Royce group. ITP Aero's status as a corporate entity within Rolls-Royce will grant a degree of organisational autonomy to the company, giving it the capacity to fully comply with all its commercial business commitments, while meeting Rolls-Royce's governance and compliance standards.

Reflecting the change in ownership, the ITP Aero Board will now be constituted by a mixture of Rolls-Royce employees and independent Directors, namely Alberto Garcia Erauzquin and Josep Pique, who is appointed as Chairman.

As part of the Rolls-Royce group, the Bilbao (Spain) based aero engine component designer and manufacturer will maintain a differentiated multi-product strategy for each market segment. It will continue to service its current broad customer portfolio, spanning the wide body and single-aisle markets, as well as the regional and business aviation segments.

As outlined in its previously communicated Strategic Plan ITP 2020, ITP Aero expects to make total investments of up to 400 million euro over the next several years to deliver upon its plans. Investments will be directed by an industrial growth program, which aims for increased capacity for its main plant in Zamudio and a second casting plant in Sestao (Bizkay), among others. Continued investments in research and technology will sharpen its profile as a key technology partner for Rolls-Royce and other customers.

Already today, ITP is an important partner on the Rolls-Royce UltraFan® engine development programme, which aims to demonstrate a 25% fuel efficiency improvement over the first generation of Rolls-Royce Trent engines. ITP will continue contributing to that program in the future, developing competencies on digital operations such as design, simulation and manufacturing 4.0.

ITP Aero will continue to participate as a partner in the main European Defence aviation consortia and to provide MRO services for a wide range of engine applications, including the long-running services it offers to the Spanish Air Forces, a key client during ITP success story. ITP Aero will remain as the Spanish Defence engine reference company, for existing and future programs as well as In-Service Support to the Spanish fleet.

Ignacio Mataix, ITP Aero CEO, stated: "As one of Spain's leading aeronautical companies, this is an important day for ITP Aero and all our employees in the six countries where we operate. Being part of a leading industrial technology group will enable us to both strengthen our collaboration on Rolls-Royce's Trent aero-engines and at the same time continue working for all our global clients. Today's news provides the basis to grow our activities and long-term employment levels, which we expect to continue increasing in line with the past years. In addition, I would like to welcome Josep Pique as new Chairman of ITP Aero Board."

Warren East, Rolls-Royce CEO, commented: "I would like to thank the approving authorities, in particular the Spanish Government. We welcome ITP Aero, a trusted partner for many years, to Rolls-Royce. ITP Aero's excellent facilities, products and services will add to the group's capabilities and bring the potential for further development. I look forward to working with current and future ITP employees as Rolls-Royce's aerospace business experiences a period of unprecedented growth in large civil aircraft engine deliveries."

 

ITP Aero, a renewed brand

ITP Aero has sharpened its brand in order to adapt it to the highly competitive aeronautics industry, adding the suffix "Aero" as an additional descriptor to its newly designed logotype. The updated image marks the start of a new chapter in ITP's 28 year successful growth story. The ITP Aero brand will embrace all the company's subsidiaries and business units, unifying them under one name.

The new brand reflects the company's global leadership in the aeronautical and industrial engines market, the way it combines proprietary technology, commitment to excellence and strong partnerships with customers. Therefore, the new logotype symbolizes:

  • Partnership. The two forms in rotation have been tailor-made to represent the new brand's embracing spirit and the way ITP Aero collaborates with all industry partners, customers and suppliers.
  • Technology. The two active shapes also reflect the dynamic and innovative nature of ITP Aero, source of the proprietary technology and constant innovation.
  • Leadership. The symbol uses contrasting blues, capturing the scale of the sky and representing ITP Aero's leading position in a global industry.

In January a series of stakeholder meetings will take place, as well as celebrations with employees in all the company's facilities around the world.

Note to the editor

ITP Aero is currently the ninth largest aircraft engine and components company in the world by revenue. Ranking among the top one hundred companies in the aerospace industry (Top 100 Aerospace Companies, PwC and Flight International). The company employs over 3,500 people at its production centres in Spain, United Kingdom, Mexico, the United States, Malta and India.

ITP Aero includes among its activities the design, research and development, manufacturing and casting, assembly and testing of aeronautical modules and engines. It also provides MRO services for a wide range of engines for regional airlines, business aviation, helicopters, industrial and defense applications. ITP Aero operates as a corporate entity within the Rolls-Royce group.

More information on ITP Aero

  • Contact: Louis Trollope
  • Telephone: + 34 610267334
  • Fax: ---------
  • E-mail: comunicacion@itpaero.com

More information

Start date:
19/12/2017
Type:
Noticias ITP
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