Senior confirms considering sale of aerostructures unit
Senior
160.60p
11:05 25/04/24
Engineering group Senior confirmed it was considering a sale of its aerostructure unit after recent speculation.
Aerospace and Defence
10,591.26
11:20 25/04/24
FTSE 250
19,712.45
11:20 25/04/24
FTSE 350
4,442.98
11:20 25/04/24
FTSE All-Share
4,396.66
11:20 25/04/24
“It is Senior's policy to review its portfolio on an ongoing basis and evaluate all its operating businesses in terms of their strategic fit within the group,” the company said in a statement on Monday.
“Senior can confirm that it has been reviewing all strategic options for its Aerostructures business, which includes an early stage assessment of a potential divestment of the division. There can be no certainty that this will lead to a transaction.”
The aerostructure unit supplies parts for airplanes and is part of Senior’s aerospace business, which accounts for about 70% of overall revenue.