GKN disposes of aerospace business

Redditch-based GKN has sold its £20m-turnover Aerospace Engineering Services business to Singapore’s QuEST Global Services Pte.

The engineering company sold the subsidiary, which has operations in the UK and Australia, to QuEST Global Services Pte and QuEST Global Engineering, both based in Singapore.

The sale includes certain assets and liabilities of GKN CEDU and the entire issued share capital of GKN Aerospace Engineering Service Pty.

GKN’s Aerospace Engineering Services business provides design and engineering support to a range of customers predominantly in aerospace and marine sectors.

As part of the sale, QuEST Global Services Pte and GKN Aerospace Services have entered into a long-term preferred supplier agreement to provide the engineering skills and resources to support the company’s long term growth strategy.

GKN Aerospace’s workforce of more than 200 engineers will remain with the business, the purchaser confirmed.

The Aerospace Engineering Services subsidiary had sales of £20m in the year ended 31 December 2010 and had gross assets of £8.1m at 31 December 2010.