Millions of pounds worth of business have been generated by Farnborough Aerospace Consortium (FAC) at the Ohio Global Aerospace and Supplier Summit.

US businesses will now be setting up in the UK, and British businesses are planning to put down roots in the US, according to Alan Fisher, the FAC's chief executive officer.

Ohio and Farnborough represent the centres of their countries' aerospace industries, and newly forged links will benefit both economies.

At the Farnborough Air Show last year FAC and the Ohio Aerospace Institute signed a 'memorandum of understanding'.

This has oiled the route for companies to cross the Atlantic and following the Ohio summit three UK firms have plans to open in the US and three US firms want to set up in the UK or expand their presence.

Alan Fisher said: “This was a hugely important summit that will lead to millions of pounds worth of business being generated.

“We have signed up three new members to the FAC and anticipate another four or five joining soon – they are both UK and US firms.

“Inward investment to the UK will be from Jergens Inc, a precision manufacturer, Lone Star, which provides analytics, and Duke Manufacturing. All want to open here or grow their UK business.

“Another US firm we had positive discussions with was Gertsburg Licata, an affordable law firm that helps UK companies open in America.

“British firms planning to set up in the US are Blue Abyss, a tech business, Bloc-digital, which maximises digital asset potential, and TISICS, a metal composites business.

“FAC members including Materion, another metal composites company, also attended the summit, which included a tour of NASA's Research Facility.

“FAC exists to win business for members and we were able to speak at the summit to representatives from major companies including Boeing, Airbus, Safran, Embraer, GE Aerospace and Parker.

“The work done on the visit will bring investment to the UK, particularly the Farnborough and wider Hampshire area, and will also create jobs.

“Britain is a world leader in aerospace, a sector that is now including more businesses looking to the potential of space travel.

“We must continue to grow our industry or risk losing our place at the top table.

“Part of this is to promote the excellent advances we are making in cleaner fuels, quieter, more efficient aircraft and new tech including drones.

“We also have superb businesses that work in the supply chains of the aerospace sector and should be proud of our achievements.”