Derby’s Rolls-Royce is fulfilling what has been announced by the government, as the UK’s largest single export deal with Israel thanks to financing from UKEF.
The British giant will supply Trent 1000 engines to power a fleet of 16 Boeing 787 Dreamliner aircraft orderd by EL AL Israel Airlines.
The cost of the deal has not been disclosed, but according to the government is the largest single export deal the UK has ever had with Israel.
It has been made possible by funding support from UK Export Finance (UKEF), a export credit agency that aims to help British firms win export contracts by providing financing terms to buyers.
The deal follows the government’s proposed export strategy, which sets out a tactical plan for businesses to find and utilise new international markets.
This is the first time that UKEF has supported an aircraft delivery to EL AL, and could show the support that the UK’s export credit agency can give to Britain’s aerospace engineering sector in the future.
Govt’s export strategy explained
The export strategy aims to increase British exports as a % of GDP, by encouraging UK businesses to research, access and build relationships with global markets including Asia, the Americas and Australia.
The tactical strategy, set out by International Trade Secretary, Liam Fox, aims to make Britain an exporting “superpower”.
The strategy focuses on exports, and aligns to the industrial strategy, looking to improve and support manufacturers and businesses when the UK leaves the European Union next March.
UK export successes
Battery firm, Hyperdrive Innovation who produce battery packs for a variety of electric vehicles, as well as offering energy storage systems, has secured a multi-million pound Taiwanese export deal.
Earlier this year, the Sunderland-based company secured a deal reportedly worth £40m to enable Taiwanese manufacturing giant Foxlink Group, to produce and market Hyperdrive’s modular battery pack across Asia.
The technology at Hyperdrive Innovation allows energy generating systems like solar or wind farms to be stored and then utilised when needed, something vital for future energy use.
Hyperdrive, which is the leading independent developer of lithium-ion energy storage technologies, is also reportedly on track to hit £10m turnover this year.
H.Forman & Son produces, from London’s east end, artisan smoked salmon for top chefs and restaurants across the globe.
The century-old business, produces quality PGI protected Protected Geographical Indication, this safeguards regional foods that have a specific quality or reputation – smoked salmon through its traditional smokehouse processes.
CEO, Lance Forman, sat down with The Manufacturer in Stratford, and said: “We are the oldest producer of smoked salmon in the world. We bring in two to three tonnes of salmon from Scotland everyday.”
He added: “We export all over the globe and we have for 50-60 years, our biggest market is traditionally and still is the US. Now we are exporting more to China – I believe that will be a huge opportunity for us, and also luxury resorts in Mauritius and Barbados. There is a lot of opportunity.”