GKN in talks with Volvo to buy aerospace business

Posted on 12 Mar 2012

The Sunday Times reported that UK engineering firm GKN is willing to pay £800m to buy Volvo’s aircraft engine unit.

Volvo Aero manufactures aircraft engines and components, including the jet engine used in the Saab Gripen combat jet.

The aerospace business represents GKN’s second largest division, which produces components for helicopters and civilian and combat aircraft.

In November 2011, the Swedish company announced it would sell its aerospace unit to concentrate on the production of trucks and construction equipment.

More information are available on the BBC website