Pilkington Sell Aerospace Business

Pilkington has entered into an agreement for the sale f the whole of the issued share capital of Pilkington Aerospace Ltd (Kings Norton), and Pilkington Aerospace Inc (California) to British-based GNK plc at a price of £42M. The consideration will be paid in cash. GNK is a specialised engineering concern focused in the aerospace and automotive industries. The sale is in line with Pilkington's strategy of concentrating on its core building products and automotive businesses. The transaction is subject to obtaining the necessary regulatory approvals in the UK and the USA.