Spanish aerospace components supplier ITP Aero has inaugurated its new advanced manufacturing centre in Spain which will enable the research of new materials, the development of new high-complexity components, and the enhancement of repairs activity.
The company has invested €24 million in ADMIRE (Advanced Manufacturing Aerospace Center) which it hopes will contribute to the company’s transformation toward more sustainable aviation and employ more than 150 highly qualified professionals.
Eva Azoulay, chief executive of ITP Aero Group, which is majority-owned by Bain Capital, said: “The inauguration of this centre demonstrates our commitment to more sustainable aviation, at a time when commercial aviation, the main growth engine of our company, has a significant need for new technological solutions to meet future engine demand.
“ADMIRE will be a catalyst for employment and industry in the Basque Country. We will continue to work to further position Spain as a leading country in the global aerospace industry.”
Ivano Sessa, co-head of private equity Europe at Bain Capital, said: “ITP Aero’s growth is remarkable, and at this rate, it will soon be one of the largest companies in the sector. ITP Aero has capitalised on the dynamism of commercial aviation, and we are confident that it will continue to lead this market with flexible and efficient solutions.”
Since Bain Capital’s arrival in 2022, ITP Aero has invested more than €235 million, with a record industrial and technological investment plan that positions the company as an industrial giant in commercial aviation. This includes the acquisition of BP Aero, a leading provider of aviation engine aftermarket services located in Dallas, US, as well as a new casting plant and a new logistics centre in the production hub of Querétaro, Mexico, in addition to significant investments in several of the company’s plants in Bizkaia.
A key focus of ITP Aero’s investment plan is innovation, which is highlighted by the inauguration of ADMIRE. The new facility will play a key role in finding solutions in several areas with a focus on technologies including additive manufacturing (3D printing), advanced casting, and advanced repair and welding.
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