Investment News | 21 July 2021
World leading engineering group to establish headquarters in Derby
A world-leading engineering group has chosen Derby as the place to establish its new national headquarters.
Nèos International is to create the new base at Westside Park, in Raynesway, which will also provide a permanent home for its new specialist composite facility, run by subsidiary Nèos Composites.
It will create up to 150 jobs and technical apprenticeships in the city, as well as hundreds more through indirect supply chain employment.
Composite materials are used in aerospace, rail, automotive and other high value industries. Derby and the surrounding area are home to a number of global companies operating in these sectors, including Rolls-Royce, Alstom and Toyota.
Carl Roberts, chief executive at Nèos International, said: “Derby has long been heralded as an engineering and manufacturing powerhouse – from early developments in steel, to the latest in safety critical systems for aerospace, Derby has a rich history in delivering engineering excellence.”
Paul Simpson, chief executive of the city council, said: “For the city, and indeed the council, the move fits perfectly with our future ambitions; Nèos’ focus on innovation and their diverse market specialism ticks key boxes in our economic recovery strategy.”
With expertise in F1, motorsport, space, defence, aerospace and rail, Nèos hopes to grow its customer base across multiple industries and expects to generate an annual revenue of £20 million from the facility within the next two years.
Carl said: “The city itself is famous for the aerospace and rail heritage but this belies the scope of opportunity that such a well-located city can offer.
“Many of our customers and the sectors we serve are represented within Derby and Derbyshire, from aerospace to automotive, and from nuclear to infrastructure.
“By assimilating several of our business units together in one facility, we expect to leverage the very best of what the city has to offer in terms of the workforce and the supply chain.”
The move follows months of location scouting by Nèos International, with city council leaders stepping in to offer a purpose-built composites manufacturing and development facility.
Paul said that Nèos’ move builds on the city’s three key pillars for economic recovery – maintaining confidence, diversification and decarbonisation – and would be welcomed by many of the organisations already in the city.
He said: “Their background in aerospace, automotive, composite and rail mean a number of organisations already operating in Derby will benefit, so we’re excited to see the positive implications for our local supply chain.”
Tim Wybrow, managing director of Nèos Composites, said he hoped work undertaken at the new composites facility would be showcased on the global engineering stage.
He also said that the group looked forward to working with local academic institutions in the city to create technical apprenticeships.
He said: “By leveraging the long and proud engineering history of Derby, we expect to grow our group quickly in terms of employees and projects, generating long-term, high-quality employment, as well as boosting the supply chains and collaborative opportunities available within the city.
Gareth O’Donovan, the city council’s head of economic growth, said: “This move brings good quality, sustainable jobs and apprenticeships to the city, which ultimately means income and opportunity for our people and their families.”
The company has produced a video to mark the launch of the new Derby headquarters. To view it click here.
