A Wirral resident, Stewart joined the company in the year that The Beatles topped the charts with Hey Jude, and the Olympics was shown on TV in colour for the first time.

He learnt the business from grass roots level, literally going from the shopfloor to the boardroom and all points in between.

Many years were spent visiting CML sites around the country, rising to supervisor, production manager and general manager of composites.

This year is his tenth as managing director.

Stewart said: “I’ve seen a lot of changes over the years and, as we know, many manufacturing industries have declined, but I still believe in what we are doing and that aerospace has a long-term future.

“I also think we are well-placed to weather the current circumstances with a good order book and a nice mix of apprentices and very experienced staff. I have made it my business to surround myself with a good team that know what they are doing. I see my role as liaising with customers and looking at new opportunities.

“We know it’s tough at the moment, which is one of the reasons that we are looking to diversify. I remember, after 9/11 occurred, there was an immediate effect and orders dropped from £11m to £8m, but we still managed to break-even.

“Through investment, we built ourselves up again and that's the policy we have adopted now.”

CML contributed £1.8m to group profits last year. The business owner, Intelek, is quoted on the Alternative Investment Market and has sales of £13m.

CML has also increased return on sales to 13.8% through a programme of continuous improvement and tight control of overheads.

The composites division achieved an increase in sales of 28% on the back of orders used in Airbus planes and Hawker Beechcroft’s business jet.

The company is also committed to raising environmental standards. Working with the Carbon Trust, it is planning to reduce its footprint through the implementation of energy saving projects.

Meanwhile, work on the Joint Strike Fighter, known as Lightning II, is continuing.

Later this month, the prototype will depart Fort Worth by truck and will be transferred to a cargo ship for the final voyage to the BAE Systems Structures Laboratory in Brough, England.

The fighter will eventually take off from the flight decks for Britain’s next aircraft carriers, likely to be built at Laird’s.

barry.turnbull