MP Visits Newbow
Karen Lumley Member of Parliament for Redditch County visits Newbow Aerospace Ltd.
Karen Lumley, Member of Parliament for Redditch County took time away from her busy schedule to have a tour around the Newbow Aerospace facility, gain an insight into the companies business and learn how the company is going from strength to strength during these tough times.
In 2007 Newbow Aerospace Ltd was subject to a MBO (Management Buy Out) and has since been headed by Ronald Stilliard, Managing Director and Marc Green, Sales Director.
Over the past five years, during economic downturn, the management team have diversified their business model, streamlined operations and as a result of this action, increased turnover, product portfolio and number of employees year on year.
Karen was pleased to learn that Newbow Aerospace is a local SME within the Redditch & Worcestershire district that is growing at a fast pace during these economic tough times. In addition to this, approximately 65% of Newbow Aerospace’s business relates to export sales which clearly demonstrates how pro-active the company really is on a global scale.
During Karen’s visit, she discussed the topic of banks and available funding assisting SME’s and if this had at all helped Newbow Aerospace Ltd. Ronald Stilliard, Managing Director commented ‘ Since the MBO in 2007, the banks have not helped us (Newbow Aerospace) in the slightest. The government are stipulating that funding is readily available for SME’s, but as a business, we find this funding and assistance to be transparent and none existent. Whilst our business is in a very strong position on a steep upward curve and growing at a quick pace, any additional funding and assistance from the banking sector would clearly allow us to grow our business even faster and create even more job opportunities’.
Karen Lumley will now be liaising direct with the UK Chancellor where Newbow Aerospace Ltd will be used as a successful case study within the SME sector.
Photo (left to right): Karen Lumley Member of Parliament for Redditch County, Ronald Stilliard Managing Director Newbow Aerospace, Marc Green Sales Director Newbow Aerospace.