Marshall Aerospace sign option to move out of Cambridge to Bedfordshire - meanwhile business as usual as they land multi million dollar US contract
PUBLISHED: 11:51 07 October 2020 | UPDATED: 11:51 07 October 2020
Marshall Aerospace of Cambridge could move out of the city having agreed an option to relocate to a new site on Cranfield University’s proposed air park development in Bedfordshire.
Gary Moynehan, chief executive of Marshall Aerospace and Defence Group (MADG), confirmed the signing of an option to acquire a 150-year lease on the site.
But he insisted it did not represent a final decision to relocate but a step that “provides us with a credible relocation option”.
He said the company was excited by Cranfield’s ambitions to create a global research airport and Marshall was already collaborating with them on several R&D projects.
Signing of the option agreement “represents a further strengthening of a valuable relationship that I am sure will deliver significant benefits to all parties over the years ahead, irrespective of where we ultimately make our new home”.
You may also want to watch:
“However, there are still a wide number of factors that we need to take into account before making any definitive decision about the best location or locations for the MADG business when we ultimately relocate by 2030.”
Last week MADG revealed it had won a ten-year multi-million-dollar contract with the US Marine Corps to supply depot-level maintenance to its 66-strong fleet of KC-130J tanker aircraft deployed worldwide.
The contract, one of the biggest in the company’s history, “represents a very significant step forward in our strategy to grow our share of business in North America,” said Mr Moynehan.
“This win builds on more than 50 years of service to the Royal Air Force which has, and continues to be, the bedrock of our military aerospace business.
“I am very proud that the US Marine Corps is prepared to place its trust in a privately owned British company to undertake this important work.”
He said: “MADG is one of just two suppliers to have been awarded a framework contract and as such it has huge potential for the long-term future of our business.
“Whilst the volume of work we secure will ultimately be dependent on our ongoing performance I am very confident that we will begin to demonstrate our ability to deliver a world-class, cost effective service when the first aircraft arrives in Cambridge later this year.”
If you value what this story gives you, please consider supporting the Ely Standard. Click the link in the orange box above for details.