ABC Money
Home

Airbus sells part of production site in Britain to GKN


Published :
Mon, 15 Sep 2008 03:30
By : own author
Print this Story


AddThis Social Bookmark Button

London - European aircraft manufacturer Airbus sold part of its manufacturing site in Britain Monday to engineering giant GKN for 136 million pounds (243 million dollars) as the government revealed it had agreed to give financial backing for the deal. GNK, one of Britain's leading engineering firms, is to acquire the manufacturing operation at the site in Filton, near Bristol, in western England, where wing components for the Airbus are made.

Business Secretary John Hutton said the government had agreed, in principle, to support GKN with a repayable launch investment of 60 million pounds.

In addition, 50 million pounds will be made available over the next five years for research and technology to support a number of Airbus projects, the government said.

Trade unions welcomed the sale of the unit, where about 1,500 of Filton's 5,000 employees work.

The factory was put up for sale by Airbus's parent, EADS, as part of its Power8 restructuring programme, and is seen as a commitment by Airbus to involve the British site in future work on the A350 long- range aircraft.


Share on



Comment on this Article
Comment:
Title:
Name:
Please Enter
 
Here
  

 Search News

 Look For
Business
Credit cards
Finance
Loans
Money
Mortgages

 
 Stock Quotes *
SYMBOL
LAST
CHANGE
DOW JONES
10340.69
-107.24 ( -1.03 %)
NASDAQ
2792.28
22.57 ( 0.81 %)
FTSE 100
5741.15
38.78 ( 0.68 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
STANDARD CHARTERED ( 11:35am )
1559.00
70.00 ( 4.76 %)
WOLSELEY PLC ( 11:35am )
2250.00
70.00 ( 3.20 %)
CARNIVAL ( 11:35am )
2017.00
46.00 ( 2.42 %)
LAND SECURITIES GROUP ( 11:35am )
679.50
36.50 ( 5.63 %)
WHITBREAD ( 11:35am )
1662.99
33.99 ( 2.09 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
3M COMPANY ( 12:34pm )
85.78
0.71 ( 0.83 %)
BOEING CO ( 12:34pm )
75.70
0.64 ( 0.85 %)
JP MORGAN CHASE CO ( 12:34pm )
37.03
0.49 ( 1.33 %)
IBM ( 12:34pm )
181.50
0.43 ( 0.24 %)
WAL MART STORES ( 12:34pm )
60.44
0.43 ( 0.72 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
F5 NETWORKS INC ( 12:11pm )
122.38
13.92 ( 11.80 %)
ICO GLOBAL COMM CL A ( 8:01pm )
99999999.99
9.37 ( 366.02 %)
PRICELINECOM INC ( 12:23pm )
525.40
6.57 ( 1.26 %)
AMAZONCOM INC ( 12:04pm )
195.65
6.21 ( 3.25 %)
MILLICOM INTERNATIONAL CELLULAR SA ( 4:00pm )
110.18
4.82 ( 4.43 %)

Gainers & Losers
Dow Jones
Euro Stoxx 50
FTSE 100
FTSE 250
FTSE AIM
FTSE ALL
Nasdaq

 Portfolio Manager

You must log in to access this area of the site. If you are not a registered user click here to sign up for instant access!


 Finance Explained

Money making ideas

Save money

Money management
Savings accounts
Investing money
Share dealing
Stock broker
Forex currency trading
Pension plans
Functions of Money

(c) 2007 viploan.co.uk, All Rights Reserved
*viploan.co.uk does not guarantee the accuracy of any share prices or stock quotations displayed. These are not real time quotes; all are delayed by at least twenty minutes and are for information purposes only.