Radius Aerospace factory in Shrewsbury set to close
- Published
Radius Aerospace said it had tried to adapt to a changing market
An aerospace factory is set to close because of falling orders following Covid and rising energy costs.
Radius Aerospace said over the past three years it had been making changes to the site, in Shrewsbury, Shropshire, to adapt to a changing market.
But it said those changes had not been enough to maintain its profitability.
It said it planned to close the factory on Whitchurch Road on 19 April 2024, but its other UK plant, in Sheffield, would remain open.
Radius Aerospace said it employed 120 people at the site.
The company said the aerospace industry had seen "significant changes" as a result of the coronavirus pandemic and it had seen a reduction in sales to key customers.
It said it had tried altering its products, processes and the size of the business to meet the changing demand, but it had not been enough.
The company added there would now be a 45-day period of collective consultation.
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