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It has already hired 229 employees, an objective initially set for 2020

Institutional visit to the new ITP Aero Castings facility in Sestao

This morning the Deputy General of Bizkaia, Unai Rementeria; Deputy of Economic Development and Territory, Imanol Pradales and the Mayor of Sestao, Josu Bergara, have visited ITP Aero's new Castings facility in Sestao. Authorities have been guided by Carlos Alzola, Managing Director of ITP Aero, and Iratxe las Hayas, Managing Director of ITP Aero, Castings.

The new facility lies within the ITP 2020 Strategic Plan's forecasted growth, based on strengthening R&D and answering the needs of the positive forecast of the global aeronautics industry. The Sestao based plant conducts the finishing processes of the products manufactured in the nearby Barakaldo facility.

The new facility has improved the scheduled hiring plan. It has already employed 229 people at year end 2017, an objective set initially for 2020. More than 50% of the hired staff comes from Bilbao's left bank of the river population with an average high to medium degree of training, mostly specialized in technical areas.

The finishing lines implantation programme is also ahead of forecast, due to the new product developments as a result of production increase in the global aeronautics industry.

The new facility started operating in February 2017 and is now fully operative. Up to date, more than 65% of the 20 million euro investment made by ITP Aero in machinery and technology has been committed. Unai Rementeria, Deputy General of Bizkaia, has stated that: "This new facility started operating a year ago and is now fully operative. ITP Aero has committed 65% of the 20 million euro investment, and it's already ahead of its forecasted hiring plan within a year of its opening".

Carlos Alzola, Managing Director of ITP Aero, has commented that: "Our new castings plant in Sestao is proof that we are achieving the ambitious goals set in our ITP 2020 Strategic Plan, in this case, even exceeding the initial hiring and business growth forecasts. Castings activity has a strategic value for our Company, it allows us to develop a wider product portfolio in comparison to our competitors".

Castings Barakaldo

Investment and job creation

During 2017, ITP Aero invested 121 million euros in R&D (67 million in 2016), strengthening ITP Aero's position as one of the Spanish leading companies in technology and R&D investment in relation to sales.

Regarding its overall workforce, ITP Aero has increased its headcount, amounting 3.624 employees as of December 31st 2017 (3.346 in 2016). This means 278 employees more and follows the production ramp-up, especially in relation to the Rolls-Royce Trent engine family and Pratt & Whitney in all the PurePower® PW1000G. Most of the new workforce has joined the Zamudio and Sestao plants, both in Biscay.

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.

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