Aerospace firm flying high with new funding

Martin Aerospace, a Scottish manufacturer of component parts for the aviation sector, is gearing up for growth after landing a £2.5 million finance facility.

The firm, which was established in 1993, has grown strongly over the years and is now eyeing ambitious plans for the future. The manufacturing side of its business is carried out in advanced workshop facilities in Lanark.

Bibby Financial Services is providing a £2.5m invoice discounting facility to help fuel the company’s expansion. It will be able to undertake more project work simultaneously.

Ronnie Stokes, corporate manager, Glasgow, for Bibby Financial Services, said: “Martin Aerospace is a hugely successful business, and we’re pleased to have the opportunity to work alongside it, supporting its future growth.

“The flexible facility means that the amount of funding Martin Aerospace has access to will grow in line with its sales, so the business will always be able to access the working capital it requires to continue expanding.”