British engineering group GKN has paid £633m for turbine maker Volvo Aero, in a move to consolidate its position in the global aerospace industry.
The deal is expected to enhance GKN’s earnings per share on a management basis as well as generating a favourable ROI in invested capital – exceeding the group’s pre-tax weighted average cost of capital of 12%. Volvo Aero is a large section of Volvo itself, employing over 3,000 people spread across several continents. The company designs, engineers…
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