Engineering firm GKN has revealed it is in talks with at least four of the aviation industry's biggest players in a bid to bring more work to its Bristol factory.

The British owned multi-national took control of the manufacturing operation at the Airbus plant in Filton on Monday in a formal ceremony.

The £300 million deal - which followed two years of behind the scenes negotiations - has been hailed as a massive boost for the aviation industry in the South West by politicians and union leaders.

Two years of negotiations were finally completed in September but the new owners formally took control today and are now putting in place their plans for the future.

Airbus will continue to carry out research and development work at Filton but the manufacture of wings will now be carried out by GKN - who will employ about 1,500 at the Filton factory. And the aim is to attract new companies to Filton including the likes of Boeing and Bombardier.

Chief executive of GKN Marcus Bryson was in Bristol yesterday for what his company has labelled Day One for GKN at Filton.

He revealed the plan is to win contracts with companies over the coming months rather than relying solely on building the wings for Airbus planes.

Mr Bryson said: "We have had serious inquiries from at least four other major players in the aviation industry and we are hoping to have something definite in place in the next six months.

"The intention was always to bring in work from outside and the intention was to have a 60-40 per cent split. We have a highly skilled and experience workforce and we the ability and capability to take on more work. We are not talking about hundreds of new jobs but building on the expertise and skills that are already available to us in the West of England."

The key to the long term future of the Filton factory is the development of new composite materials for building aircraft. The new materials are stronger, lighter and more durable and would mean cheaper aircraft. The first major contract will be making the wings for the Airbus A350.

Mr Bryson said: "By investing in our facilities and in the workforce at Filton and incorporating this operation into our global business, we will be in a very strong position to win new business. We are looking at winning a major part of the global wing structures market over the next 30 to 40 years."

Tom Enders, the chief executive of Airbus, said: "GKN is well equipped to become both a long term partner for Airbus and a major player in the global market."

Airbus will continue to design wings and build landing gear and fuel systems at Filton and will continue to employ around 5,000 workers.