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Company earns Queen's Award for 194% growth

By North Devon Journal  |  Posted: April 24, 2014


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NORTH Devon manufacturing has received the highest national recognition after Aero Stanrew recently won a Queen's Award for Enterprise in the International Trade category.

The award, which recognises the spirit of enterprise vital to the UK's economy, was made to the Roundswell-based advanced electronic components manufacturer after it achieved 194% growth in export earnings.

The citation for the Queen's Award praises Aero Stanrew for "building upon its long standing success in the domestic market to develop international markets" and growing "exports to India from zero to 48%, to the USA from zero to 15% and to China from zero to 10%".

Since a management buyout two years ago, the four-strong management team has grown the workforce by 35% to 230; developed new products; entered new markets; won contracts with blue chip customers including Rolls Royce, GE, UTC and Eaton; and grown turnover from £10.6 to £18.5 million.

"This award caps an amazing couple of years for Aero Stanrew and validates that we're doing lots of things right," said chief executive Clive Scott, who led the 2012 management buyout.

"It's the highest accolade a UK business can get – we're thrilled.

"Our mission is to be a British company that's recognised as a world leader in our field. We've shown that the skills do exist in this country to put the UK back on the map and become a leading nation of manufacturers again."

Started in 1949, Aero Stanrew is recognised as an "advanced manufacturer", and designs and manufactures high integrity electromagnetic and electronic components and systems for the aerospace industry. It provides components to a variety of programmes including the A350 and A380 Airbus, Boeing 777 and Dreamliner.

The company is now replicating its success in aerospace in other "high reliability" markets such as oil and gas, and has already seen a 30% growth in this sector over the past 12 months.

Mr Scott believes that emerging markets, particularly in the Far East, will continue to drive growth at Aero Stanrew: "Conservative estimates predict that 26,000 new passenger aircraft will be manufactured over the next 15 years. We fully intend to exploit all the opportunities this presents."

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