Hampson Industries, the aerospace components and tooling supplier, has placed itself up for sale amidst large debts and a potential problem with its largest order.
A problem with a £53 million contract with Boeing is expected to lead to delays in deliveries until 2013. Hampson is reviewing the potential impact this may have on its turnover and profits. It is to speak with Boeing to secure its approval on the order.
The firm has been disposing of assets in response to its substantial debts of about £55 million. This debt figure is down from £88 million, following a sale of its shims business - which manufactures spacers used in aerospace structures - for £51.5 million in October.
Founded in 1947, Hampson is in early stage talks with unnamed potential buyers of its BHW components business in the UK and its Indian operations – which were put on the market in November.
DC Advisory Partners and Dargent Advisors have now been brought in to seek a sale of the whole company.
In a statement West Midlands-based Hampson said: “The board also believes it to be prudent to review actively all financing and strategic options, including a sale of the group”.
