Isle of Wight based engineering group, GKN, featured in the business pages of The Observer yesterday, with talk of a possible purchase of Sweden’s largest aerospace company, Volvo Aero.
Julia Kollewe reported that “GKN is now the clear frontrunner to buy Volvo’s aero engine business after other bidders, including Germany’s MTU Aero Engines, dropped out”, adding that if the purchase goes ahead, it would increase the value of the company to £800m.
The purchase would be a massive boost for the UK’s engineering industry but GKN are remaining light-lipped at the moment, declining to comment.
The sale is not thought to be imminent, but we’ll let you know if we hear more.
