Chinese investment sees British manufacturer take off

Posted on 16 Jan 2017 by Fred Tongue

Chinese investor has bought a stake in a Dorset-based aerospace company, Gilo Industries Group, which produces rotary engines for jet-backpacks.

China’s Kuang-Chi is purchasing a stake in Gilo Industries Group, a manufacturer of engines that are use in jet-backpacks and unmanned aeronautical vehicles. The Chinese conglomerate is headquartered in Shenzhen, the deal is believed to give the investment group a substantial minority stake in the British firm according to industry insiders.

The investment comes despite a recent, sharp decrease in the value of the pound and is seen as a vote of confidence in British business. It is believed that this investment is the first in a series that is expected to see China pump hundreds of millions of pounds worth of investment into British technology and leverage British expertise in engineering and aerospace.

Are you a manufacturing firm demonstrating Export Excellence?

Following the inaugural awards in 2016, entries to the UK Export Excellence Awards 2017 are now open.

Organised by The Manufacturer and the Global Trade Review, the UK Export Excellence Awards are open to all UK-based exporters of any size.

Judged by an independent panel of experts from the UK’s leading export-focused institutions, the awards recognise Export Excellence across a range of sectors and regions. Winners are due to be announced at a black-tie awards ceremony on the evening of June 15 in London.

To enter, or for more information, please visit: exportexcellenceawards.co.uk

Speaking to City AM last year, Gilo’s founder, Gilo Cardozo commented: “We jumped into an industry which is incredibly demanding on specification, quality control and a whole host of other things.”

“A lot of the companies in this industry have been in it for years and have great track records. We promised a lot of great things to clients, and had to ensure we delivered.”

The founder of the Chinese conglomerate, Liu Ruopeng, is a keen investor and believe in future technologies. He has reportedly expressed an interest in space exploration projects and has outlined plans for a future-technology theme park.

The exact details of the deal have not been released at this moment and no comment has been provided.