ITP Aero, a global aerospace propulsion company majority-owned by Bain Capital, has officially inaugurated its advanced manufacturing centre, ADMIRE, in Zamudio (Bizkaia, Spain). The company has invested €24 million in this new facility, which will support the development of new materials, complex components and enhanced repair solutions. The centre will also play a key role in addressing the rapidly growing demands of commercial aviation and the emerging needs of the future combat air system (FCAS). ADMIRE is expected to employ over 150 highly skilled professionals and will serve as a catalyst for innovation and job creation in the Basque Country.
The inauguration ceremony was attended by high-profile figures, including Spanish Prime Minister Pedro Sánchez and Basque Government Lehendakari Imanol Pradales, alongside other industry leaders. ITP Aero's CEO, Eva Azoulay, emphasised the company's commitment to sustainable aviation, noting that ADMIRE would play a pivotal role in meeting the technological demands of the future aviation engine market. She also highlighted the centre's significance in strengthening Spain's position as a key player in the global aerospace industry.
Bain Capital, which became ITP Aero's majority shareholder in 2022, has supported the company's aggressive growth strategy, resulting in over €235 million of investments. This includes the acquisition of BP Aero in the United States, a new casting plant, and a logistics centre in Querétaro, Mexico. These investments have bolstered ITP Aero's expansion, driven record growth and added 1,200 new employees over the past two years.
With commercial aviation now accounting for 70% of its business, ITP Aero's growth is a direct reflection of the sector's dynamism. The company powers six aircraft take-offs every minute worldwide and is involved in 40% of the commercial engines delivered annually. Looking to 2025, ITP Aero plans to further expand its global presence and maintain its leadership in the commercial MRO market through organic investments and strategic acquisitions. (€1.00 = US$1.05 at time of publication).
