Rolls-Royce to create 300 jobs with an investment of £55 million

Economy
By Liam

By city and financial reporter

Updated:

Rolls-Royce has announced a £55 million investment and 300 jobs to meet growing demand for its large civil aircraft.

The FTSE 100 engineer said half the investment and two-thirds of the jobs would go to the Derby site and the remainder to Dahlewitz, Germany.

Rolls said increased capacity in Derby would see it supply more than 40 percent more engines per year from 2025 compared to the average of the past decade.

Revival: Rolls is experiencing a resurgence under CEO Tufan Erginbilgic

Last month the company said it would invest £1 billion in strengthening its Trent engine programme.

Rolls is experiencing a revival under CEO Tufan Erginbilgic, who took over early last year and has seen the share price quadruple.

Growth has been boosted by an upturn in air travel, with the group forecasting the number of aircraft with Rolls-Royce engines to rise 7 to 9 percent per year for the rest of the decade.

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