Goodwin Considers Selling Parts of Its Defence and Nuclear Components Business

The Stoke-on-Trent-based group said it was exploring a possible sale of a "substantial part" of its mechanical engineering division, which includes Goodwin Steel Castings (GSC), Goodwin International (GI), Noreva, Easat and Pumps. In a statement on Friday, the firm's board confirmed it had commenced a strategic review to "consider a range of potential options to maximise value for shareholders". Goodwin said discussions were ongoing and that there was no certainty of a sale taking place.

"The board of Goodwin confirms that it has commenced a strategic review to consider a range of potential options to maximise value for shareholders whilst ensuring continuity for all stakeholders, including customers, and the long-term prosperity of its businesses, the company said. "Discussions are ongoing and there can be no certainty that a transaction will be entered into. Rothschild & Co is advising the board of Goodwin on the strategic review.