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GKN poised to buy Airbus site
10/09/2008
GKN, the UK-based engineering company, is due to finalise plans to acquire a significant part of the manufacturing site at Filton owned by the French aircraft company, Airbus, after securing about £60m in support from the British Government.GKN has been in discussions with Airbus to purchase the wing-making factory for the past ten months. The delay was down to tough negotiations over price and a commitment by Airbus to ensure the factory will have future work on the new A350 aircraft.It is understood that GKN has agreed to buy the site for £150m and to invest the same again over the next five years in development.
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