Updated - A Netherlands-based company specialising in aircraft 'cosmetics' is to relocate to the Malta Aviation Park, which the prime minister will official open this evening.

The €22 million investment by Aviation Cosmetics, as the company is called, was announced this morning by Prime Minister Lawrence Gonzi and Finance Minister Tonio Fenech. 

The company specialises in aircraft exterior painting and cabin refurbishment.

“This investment is testimony to Malta’s collective success in establishing a successful aviation cluster,” Dr Gonzi said.

“Malta’s success in this field, evidenced by the more than 1,000 people employed in this sector, was also highlighted by the International Monetary Fund’s Article IV Consultation report published earlier on this week.”

“To me and my Government, the significance of these investments solely lies in the employment opportunities they are creating.  To us, economic success equates to employment, to the opportunities we are able to create for our workers.” 

 “These results contradict the sceptics. Contrary to what is claimed, Malta remains attractive to investment and our vision for the country is transforming itself into tangible results.  130 projects haven been approved throughout these past four years with a combined investment of €320 million and the potential of creating a further 3,400 job opportunities.”

Mr Fenech said such announcements continued to inject fresh air into the economy.

"Such positive news continue to propel the Maltese economy into sustainable growth territory, which results in better job creation, Mr Fenech said."

A company image of one of its aircraft tail painting jobs.A company image of one of its aircraft tail painting jobs.

He said the growth of the aviation sector in Malta reflected the government’s continuous balancing act between decisions that reflected immediate needs and long-term strategic vision.

"Today’s announcement evidences our successful efforts to diversify our economic base thus reducing the risk of being too dependent on particular sectors.  This in fact, has helped us weather the economic turbulence over the past years and has been an important contributor to the stability we enjoy today."

The investment by Aviation Cosmetics is expected to create more than 80 jobs.

Mr Fenech said Aviation Cosmetics’ decision to expand its operations and initiate operations in Malta – a decision which will enable it to enlarge its market from Europe to customers from all over the world – meant that it would be joining a young, but healthy cluster which already includes well-established world leaders in their segment, such as Lufthansa Technik, SR Technics, Rolls Royce, MCM and Medavia.

The new planned facility in Malta enable the company to expand its offering to cater for transatlantic aircraft such as the Boeing 747 and the Airbus A380, and even more importantly to service more than one plane at a time.

The company will use facilities spread over 12,000 square metres including include two hangars that would enable it to simultaneously service one Boeing B737 and one Boeing 747 or three Boeing B737 at a time.

Mr Fenech said the project will enable Malta to diversify the local aviation industry with a related and complimentary business, thus enhancing the concept of an aviation cluster.

With the hangars still to be built, the company plans to use its Dutch facility to train the Maltese workers.

An impression of new Aviation Cosmetics hangars at Safi.An impression of new Aviation Cosmetics hangars at Safi.

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