Goodwin considering sale of mechanical engineering arm

(Sharecast News) - Goodwin confirmed on Friday that it is considering the sale of a substantial part of its mechanical engineering division. Responding to recent press speculation, the engineering firm said: "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.

"These options include the potential sale of a substantial part of the mechanical engineering division, which includes GSC, GI, Noreva, Easat and Pumps."

The naval components supplier, which is being advised by Rothschild & Co, said talks are ongoing and there can be no certainty that a transaction will be entered into.

"The board will update shareholders on the progress of the strategic review, as appropriate," it added.

At 0830 BST, the shares were up 13% at 21,250p.

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