The rapid expansion of Goodrich Corporation in Prestwick will potentially create a further 220 jobs in Scotland.
During a visit to the company's Prestwick facility, First Minister Alex Salmond officially opened a new extension to the plant.
Mr Salmond said: "Goodrich is a major global company who continues to invest in Scotland and has greatly benefitted from the high value it has placed on our skilled workforce. The extension to this vast facility reflects the rapid growth and success of the company's operations in Prestwick.
"The new extension, alongside the company's commitment to expand, will be able to take the 280 strong workforce up to around 500. The strength and presence of Goodrich has played a significant role in establishing Prestwick as one of Europe's aerospace hubs."
The FM said the economic benefit of the company's growth will be felt far beyond Ayrshire.
Scotland leads the UK in training apprentices to meet the needs of the aerospace and defence industry.
Commenting on the opening, Steve Callan, Managing Director of the Prestwick Service Center, said: "We are delighted the First Minister is here to open the extension to our facility. This is an exciting time for our business, which continues to thrive despite the economic challenges facing the industry globally.
"Over the years we have worked hard to build a world class skills base here at Prestwick which enables us to provide a first class service in the maintenance, repair and overhaul of nacelle systems in an extremely competitive market, and this expansion is illustrative of how successful we have been in achieving this."
Jack Perry, chief executive, of Scottish Enterprise which has worked closely with Goodrich to support its operations in the area, said Goodrich is an important employer in the sector and described the development as 'tremendous news'.
In April 2007, Goodrich Prestwick Service Center accepted an RSA grant of up to £1.8m over three years to assist with the expansion of the company's facility and commercial activities.
Terms of the grant include the creation of an additional 285 full-time, permanent jobs over the next 3 years; 50 of which should be created in the first year. As a result of the extension in 2008, 64 additional jobs have been created this year, representing 22% of the target number, with more jobs planned for the next two years.
(GK/JM)
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