BREAKING NEWS

Engineer Senior explores sale of aerostructures unit

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(Reuters) – British engineering firm Senior Plc <SNR.L> said on Monday it has been reviewing options for its aerostructures business, including a potential sale.

The news follows a Bloomberg report that said the company was reaching out to buyout funds and aerospace firms for the division and may seek at least 450 million pounds.

Senior, which makes a wide variety of components used in commercial jets and counts Boeing Co <BA.N> as one of its top customers, in August posted a 16% drop in first-half profit as margins in its aerospace unit were hit by Boeing’s production cut of its best-selling 737 MAX planes.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Bernard Orr)

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