Hampson mulls automotive division sale

By Mark Foxwell

Aerospace and engineering company Hampson Industries is considering the sale of its loss-making automotive division as part of a strategic review.
Finance director Howard Kimberley said a disposal would be the preferred option to allow the firm to concentrate on its core aerospace business of making parts for the Airbus A380 and the Boeing Dreamliner.
The company wants to appoint an adviser in due course after receiving expressions of interest from several parties for the business, which makes parts for turbochargers at two sites in Lancashire and one in India.
It employs 170 staff after recently cutting 150 posts.
Analysts believe the division, which posted a loss of £9.8m for the year ending last March, could fetch up to £10m.
Kimberley said: 'Volumes of turbocharger components have dropped to low levels during the recession.'