Pilkington sells off aerospace division

Pilkington has sold a business that makes cockpit windows for fighter jets for £42m after getting the go-ahead from the Office of Fair Trading.

The St Helens-based firm announced earlier this year that it planned to sell its aero-space division, which produces glass and plastic "transparencies" for use in aircraft canopies and windows in the military and civilian markets, to engineering giant GKN.Redditch-based GKN said the acquisition would enlarge its presence on some of the world's key aircraft programmes, particularly in the US.As well as FA-18 Hornets, Pilkington Aerospace has made cockpit windows for the military C-17 transport plane.It also has a contract to develop and supply the canopy for the new F-35 Joint Strike Fighter.The division employs 500 staff at sites in the Midlands, California and Brazil and all employees have switched to GKN following clearance from the UK government.Pilkington group chief executive Stuart Chambers said: "This disposal is consistent with our strategy of concentrating on our core building products and automotive businesses and further strengthens the group's financial position."Pilkington has sold a business that makes cockpit windows for fighter jets for £42m after getting the go-ahead from the Office of Fair Trading.

The St Helens-based firm announced earlier this year that it planned to sell its aero-space division, which produces glass and plastic "transparencies" for use in aircraft canopies and windows in the military and civilian markets, to engineering giant GKN.

Redditch-based GKN said the acquisition would enlarge its presence on some of the world's key aircraft programmes, particularly in the US.

As well as FA-18 Hornets, Pilkington Aerospace has made cockpit windows for the military C-17 transport plane.

It also has a contract to develop and supply the canopy for the new F-35 Joint Strike Fighter.

The division employs 500 staff at sites in the Midlands, California and Brazil and all employees have switched to GKN following clearance from the UK government.

Pilkington group chief executive Stuart Chambers said: "This disposal is consistent with our strategy of concentrating on our core building products and automotive businesses and further strengthens the group's financial position."

600450 Pilkington sells off aerospace division glassonweb.com
Date: 20 October 2003
Source: Icliverpool.icnetwork.co.uk

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