Chris Price, of Mowsley Road, executive vice-president of engineering and technology purchasing at Rolls Royce, was awarded the Order of the British Empire in the New Year’s Honours List.

A father of two, Mr Price (61) was born in Manchester and gained an honours degree in mechanical engineering at the University of Nottingham before joining British United Shoe Machinery (BUSM), where he went on to become the Leicester firm’s product and process development director.

He joined Rolls Royce as a technical director for its Industrial and Marine Power Group, based in Coventry, in 1997.

But when BUSM went into receivership in October 2000, leaving hundreds of former workers with little or no pension because the company’s schemes were in deficit, Mr Price contacted MP Edward Garnier on behalf of campaigners fighting to receive compensation.

The Conservative MP backed campaigners in their long-running fight and the Government last month unveiled a £2.9billion package that will see workers receive 90 per cent of the value of their lost pensions.

Mr Price said: “I was delighted for my former colleagues as much as for myself, at the improved compensation offer. Edward Garnier was a really valuable advocate in the campaign to recover the pensions and the whole BUSM group is very grateful to him.”

An honorary treasurer of the Royal Academy of Engineering for the last four years, Mr Price is also a fellow of the Institution of Mechanical Engineers and was made its youngest president for more than 100 years in 1995, aged just 48.

He is also a fellow of the Institution of Engineering and Technology, has served as a member of the Senate of the Engineering Council and is a liveryman of The Worshipful Company of Engineers.

Outside engineering, Mr Price, who is married to Sylvia, is a member of Harborough Golf Club and the couple also enjoy skiing, the theatre, and spending time with their children and grandchildren.

Speaking about his honour, he said: “I was delighted. It’s always nice to be recognised for what you do.”