9th Dec 2019 08:42
(Alliance News) - Aerospace and defence engineering company Senior PLC on Monday confirmed speculation regarding a review of its Aerostructures business, but said that there can be no certainty over any transaction for the business following the review.
Senior shares were up 5.3% at 187.00 pence each in London, the best performer in the FTSE 250.
"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," the FTSE 250-listed company said.
The Rickmansworth, Hertfordshire-based company added that the Aerostructures review is in line with Senior's policy to review its portfolio and evaluate all its operating businesses in terms of their strategic fit within the group.
The Aerostructures business, part of Senior's aerospace unit, manufactures structural parts for original equipment manufacturers in the large, business and regional jet markets. In 2018, the aerospace unit contributed GBP760.4 million to group revenue which totaled GBP1.08 billion.
By Tapan Panchal; [email protected]
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