Melrose Industries will reposition itself as a pure-play aerospace group in a trading update on Wednesday that will fuel speculation about its founders' future, Sky News learns.
Melrose Industries will on Wednesday announce the most significant shift in its strategy since its creation 20 years ago by telling investors that it is repositioning itself as a pure-play aerospace company.
City sources said the company was likely to commit to shareholders that it will not pursue any material acquisitions, either in or outside the aerospace sector, over the next 12 months. Wednesday's trading update will follow the recent demerger of GKN's automotive division, which has since been renamed Dowlais Group and has been listed as a standalone business on the London Stock Exchange.
The company's board is said to believe that the revival of investor appetite for aviation-related stocks should prompt a material re-rating in the short-to-medium term.
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