Rolls backs UK as engine sales soar

AIRCRAFT engine maker Rolls-Royce is pumping £150million into its UK plants in a major Brexit boost.

Most of the cash will go on a new testing site at its Derby home as it aims to double production.

The move is Rolls-Royce’s biggest single investment in the UK for more than a decade and will safeguard over 7,000 jobs.

Another 150 jobs were saved as it ditched plans to close a machine plant in Derby.

Rolls-Royce joins a list of major firms that have announced plans to invest in the UK since last June’s vote to leave the EU.

That is despite warnings from business leaders about the impact of Britain leaving the single market and customs union, and the resulting threat of import duties.

Rolls made a five-year pledge of no compulsory redundancies at its East Midlands plants which employ 12,000 staff.

Eric Schulz, president of civil aerospace at the firm, said: “We are doubling production of new engines at the same time as introducing three new engines to the market.”

Unite union national officer Ian Waddell said: “There were real fears future investment could go overseas. This massive vote of confidence will secure Rolls-Royce’s manufacturing base in the UK for the next 20 years.”

Expansion, on the back of bumper orders for engines, follows two years of restructuring by boss Warren East. That came after profit warnings and a corruption fine to settle a case brought by the Serious Fraud Office and authorities in the US and Brazil.

Rolls reported its biggest-ever loss earlier this year when it slumped £4.46billion into the red.