Senior seeks right moment to launch sale - News Summed Up

Senior seeks right moment to launch sale


Senior’s aerostructures divison makes components for wings, fuselages and engines for companies such as Boeing Larry W Smith/Getty ImagesA British-based supplier of components to Boeing, Airbus and Rolls-Royce could be sold off. Senior, a quoted precision engineer, has indicated that it is willing to listen to offers for its aerostructures business in a deal that analysts said could raise £450 million. The news follows the sale of Cobham, another British aerospace group, to an American private equity firm. Senior was created in the 1930s as a producer of industrial economisers to reduce fuel consumption and was floated in 1947. With annual revenues of more than £1 billion, 70 per cent of the group works…


Source: The Times December 10, 2019 00:00 UTC



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