Airbus Filton factory sold to GKN.

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Engineering company GKN plc reported on Monday (15 September) that it has agreed to acquire part of the Airbus factory in Filton in the UK.

The wing component manufacturing

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GKN has signed 'life of programme' contracts with Airbus relating to all existing Airbus programmes at the factory. The company has also signed contracts to design and produce large-scale composite structures for the wing of the new A350 XWB aircraft.

Under the agreement with Airbus GKN will pay a total of GBP136m for the Filton operation.

GKN said that it intends to invest GBP125m in the facility over the next five years to further develop the business as a global centre of excellence in composite wing structures as part of its participation in the A350 XWB.

The acquisition remains subject to regulatory approval but is expected to be completed at the end of this year.

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