So good afternoon everybody.

I'm going to begin with an apology because I'm not Piers

Olsen as it's written down in the agenda.

He signed up for this event earlier this summer

and has since got a small dog which he's not allowed to take out of the country so he's

asked me to come and represent the company.

He has always said he's enjoyed these events.

This is my first time here so thank you very much for having me.

I'm actually, I am a,

even though I'm now a business development director, I'll pick up on something Spencer

was saying about not doing difficult sums anymore, it's just sums with percentages

that involve margin and currencies and stuff.

I did spend a while being, 12 years being

an aerospace engineer working in flight physics so it's nice to get back into the sort of

some of the technical presentations I've very much enjoyed and especially the mention of

Matlab which was one of my favourite tools that I no longer get to use anymore.

So it

makes it a very good interesting event for me so thanks very much.

So I'm just going

to begin with an introduction to Olsen Actuators, who we are and what we do.

We're a small company

independently owned based in the north west of England providing electrical actuation

systems and components.

We had a turnover of about five million pounds last year and

we're rapidly growing. I joined about six months ago and there were 22 of us I believe

and there are now 29 of us. So that gives you a good insight into the rate of growth.

And we moved about 12 months ago into a nice appropriate building for such a company where

we get to split some space into production and integration and testing and offices and

we're just, we're in the process of actually going into the upstairs of the building so

that means we're taking our second 5

000 feet of space meaning that our techs and our engineers

get a lot more space to play and to produce more actuators for more applications.

We work

across markets so we're not just an aerospace company.

We're very broad in that sense and

so I'm learning every day about different applications for electrical actuation.

And

we have quite a unique offer whereby as the company started off as a distribution company

we can provide off the shelf products with distribution deals from our suppliers from

around the world where we provide really quality products that if you would like to

purchase a GTX 80 we'll sell you a GTX 80 and pass it on but there's very little value

added to that.

And so over the years we've modified more and more of our actuators that

we supply

providing our own warranties to the point where we now provide custom actuators

that are started from a blank sheet of paper and this, today I'm going to talk through

an example of that that is relevant to propulsion or get there.

And it gives you an insight

into what the

some of the challenges