Melrose commits to aerospace after automotive spin-off
Birmingham manufacturing giant Melrose Industries has said it will become a pure-play aerospace company, following the demerger of its automotive unit.
The firm announced in its trading update that it will not pursue any acquisition of an unrelated industrial business or, in the near term, a material aerospace business.
As its aerospace restructuring completes over the next 12 months, it says the strategy will enable Melrose to consistently buy back a proportion of its shares each year thereafter.
Melrose, which will now rep... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
