[0] GKN Sale Signals End for UK Helicopter Industry

The Evening Standard (London, England), May 20, 2004 | Go to article overview

[0] GKN Sale Signals End for UK Helicopter Industry


Byline: ROBERT LEA

BRITAIN is set to lose its last helicopter manufacturing business. GKN revealed today it plans to sell its 50% stake in AgustaWestland, a holding reckoned to be worth as much as [pounds sterling]1.2 billion.

In a surprise statement at GKN's annual meeting, outgoing chairman Sir David Lees said: "As part of the further development of the group, it is now timely to advise shareholders that negotiations are in progress concerning the possible sale of GKN's 50% shareholding in AgustaWestland to Finmeccanica, the other 50% shareholder in the business."

The sale would bring to an end British involvement in the ownership of the helicopter industry, an ongoing story which created one of the single greatest controversies of Margaret Thatcher's 11-year administration, ending famously in the acrimonious resignation of Michael Heseltine as Defence Secretary in 1986.

News of the sale also comes just weeks after it was revealed that Britain's Vickers business, maker of the Challenger tank, is to be sold to America's General Dynamics.

Lees indicated the sale of Westland, maker of Super Lynx and Apache helicopters for the military, and the besti n - class EH101 military and commercial helicopter, was a result of ongoing poor performance at the company.

In his statement to shareholders, he said GKN's underlying pre-tax profits this year will be "somewhat below that of last year" blaming in part "the lower level of profits in AgustaWestland". …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

[0] GKN Sale Signals End for UK Helicopter Industry
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.