Leicestershire-based aerospace supply chain manufacturer Sigma Precision Components, a subsidiary of Avingtrans plc, has today revealed ambitious international expansion plans after securing funding support from HSBC's Corporate Banking team in the Midlands.

The finance package has allowed the company to fund the growth of its site in China - a market experts predict will become a world leader in aerospace manufacturing within the next 20 years.

Stephen King, Chief Financial Officer for Avingtrans plc, commented: "The investment in China marks the start of another exciting period of growth for the company, allowing us to further develop our global capability for the aerospace customers we supply. Setting up in China has been challenging, but with the support of HSBC and the team's global expertise and contacts we are already winning new contracts and strengthening our order book, which is having a knock-on positive effect on the business here in the UK."

Ian Stitt, Deputy Head of Corporate Banking for HSBC in the Midlands, said: "HSBC have a long-term relationship with Avingtrans and have been involved in the strategic planning of this particular expansion from the outset. By expanding its outreach in this key market, the business is able to offer something that sets it apart from its competitors. The success of this innovative strategy is already being felt, with new contracts secured and additional recruits being taken on both here in the UK and in China to meet orders.

"The ambitious plans of Avingtrans's management team demonstrate that a well thought-out and executed business plan can create opportunities for business growth, even in a challenging economic climate. We look forward to working with Avingtrans as they realise future growth plans."

The Sigma business, which forms a major part of the Avingtrans aerospace division, currently employs around 110 people at its China factory site and almost 150 at its Hinckley site in the UK. Looking to the future, the company will continue expanding its international footprint into key aerospace manufacturing hubs across the globe.