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Article: GKN to buy ?150m Airbus site; TOP FLIGHT: GKN will supply the wings for Airbus's A350.
- Article from:
- The Mail on Sunday (London, England)
- Article date:
- August 10, 2008
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Copyright informationCOPYRIGHT 2008 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: TOM McGHIE
ENGINEERING giant GKN will this week take the first step towards becoming a major player in aviation when it buys the Airbus plant at Filton near Bristol for ?150 million.
Airbus has been selling its factories in an attempt to cut costs and help it compete with US rival Boeing.
It is hoped the buyers can continue to use the factories to provide components for Airbus, but at a lower cost.
There were fears last month that the deal between GKN and Airbus had run into difficulties, raising concerns over 1,500 jobs at Filton, but problems have now been ironed out and an announcement is expected within days.
The factory will become a centre ...