An Aire Valley engineering firm is looking to win a share of a $34 billion project in Australia as part of plans to boost its turnover five-fold to £15 million over the next five years.

The move is part of a new five-year plan by Silsden-based Advanced Actuators to win new business in emerging markets such as Brazil, India, China, as well as the Middle East and Australia.

The company, which currently employs 26 people, manufactures three types of electro-hydraulic actuators for the oil and gas, power generation, mining and quarrying, after processing and steel industries.

It is pitching to supply actuators on a new major gas development down under and if successful would secure a year's turnover at one go.

Chris Woodhead, who runs the firm with co-director Stephen Lund, said the business, which exports 90 per cent of its output, had ambitious expansion plans.

He said: “We’ve spent two years carefully putting together a five-year plan that should see us increase turnover to between £9 million and £15 million. The gas project in Australia is huge and we want a slice of it.

"We've set out our stall to grow our sales to growing economies such as Brazil, India and China where there are plenty of major projects happening. If we are successful it will enable us to grow further and employ more people.”

Advanced Actuators was launched recently by Advanced Components Group to market the machines it makes in Silsden. The business also supplies equipment produced by other firms.

Company bosses took advantage of a visit by the Bradford-born Lord Mayor of London David Wootton to have an official factory opening, which was also attended by the Lord mayor of Bradford, Coun Naveeda Ikram.

“The Lord Mayor of London is keen to boost UK industry and invited me to join one of his official overseas visits to China. It will hopefully help us to make some valuable contacts in a key market.”