A BURNLEY company is celebrating after signing new aerospace contracts worth £40million - and securing scores of jobs in the town.

MB Aerospace Ltd, has signed extensions to deals with Rolls-Royce to supply parts for its engines - a deal announced at the Paris Airshow.

As well as safeguarding existing jobs a number of new jobs will be created at MB Aerospace's plants on the Heasandford Industrial Estate.

News of the deal was welcomed by Burnley MP Kitty Ussher who said it showed Burnley had a manufacturing future.

Under the terms of the deal MB Aerospace has signed a three year extension to supply Rolls-Royce with machine ringed components for its engines and a five year extension to oversee the manufacturing and post production of the parts.

Workers at the Burnley factory will carry out a final inspection of the parts insuring their quality.

MB Aerospace Ltd is a subsidiary of MB Aerospace Holdings Ltd.

Craig Gallagher, chief executive of MB Aerospace Holdings Ltd said at last 20 jobs would be created following the deals.

He said: "It is a massive order extension for over an eight year period us which is fantastic.

"The overall value of the contracts is £40million and not only will it create jobs growth but also job security.

"Not many British manufacturing companies have signed eight year contracts so this is huge."

Mrs Ussher said: "This is wonderful news and I am delighted for the company and its workers.

"I have visited several times and been really impressed with their commitment and hard work. This deal shows that the town has a manufacturing future in the 21st century."

MB Aerospace, employs 110 people in Burnley and Motherwell, Scotland.

The firm, along with Leyland's MB Faber Ltd, recently completed a management buyout of engineering contractor Motherwell Bridge.

It specialises in the manufacture, test and assembly of aerospace systems for both commercial and defence flights.

Motherwell Bridge bought Burnley's ailing Lucas Aerospace factory almost 10 years ago safeguarding which saved the jobs of dozens of workers in the borough. The firm once employed thousands in the area.

MB Aerospace also supplies Rolls-Royce sites in the USA and Germany as well as having contracts with Boeing.

Last November it became the first company in the UK to receive gold supplier status from Boeing.

Mr Gallagher added: "We have enjoyed a long standing relationship with Rolls-Royce plc and I'm delighted to have secured these contract extensions which are a great addition to our future order book.

"These contracts, along with the five year aftermarket contract we won in 2005 put us in an extremely healthy position and we can now look forward to continuing the development of our aero-engine supply chain."