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Industry

Airbus speaks out on GKN takeover bid

15 March 2018

Airbus has warned that it “would be practically impossible” to give new business to GKN if the UK engineering group is acquired by turn-around specialist Melrose Industries.

Tom Williams, chief operating officer of Airbus Commercial Aircraft, said in a statement on 15 March, “The nature of our industry is one that requires a commitment to long-term investment and strategic vision.

“The industry does not lend itself to shorter-term financial investment which naturally reduces R&D budgets and limits vital innovation.

“It would be practically impossible for us to give any new work to GKN under such an ownership model when we don’t know who will be the long-term investor.”

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