The Reuters news service reported on Aug. 5 that GKN Plc (Cowes, Isle of Wight, U.K.) expects soon to reach
agreement with Airbus Industrie SA (Toulouse, France) parent EADS
(Schiphol Rijk, The Netherlands) to
acquire an Airbus composite aircraft wing manufacturing factory in
is selling the Filton facility, along with others in Europe, to
supplier-partners as part of Airbus' Power8 production streamlining and
According to Reuters, the deal, under which GKN would build wing components for the Airbus A350 XWB wide-body jet, would add ₤400 million ($787.1 million USD) to GKN's annual revenues.
"We would expect to be signing contracts within the next couple of weeks. That would be a realistic timescale. There's a regulatory process which will take about 60 to 90 days beyond that," GKN chief executive Kevin Smith told Reuters.
Information: Click here for the original Reuters report.