GKN 'planning to buy Volvo's aerospace unit'

The British engineering firm is ready to pay £800m ($1.3bn) for the business, according to the Sunday Times. Volvo Aero makes aircraft engines and their components, including the jet engine used in the Saab Gripen combat jet. GKN's aerospace business is the firm's second biggest division. It makes parts for civilian and combat aircraft as well as helicopters. Last year it had sales of £1.5bn, up 4%.

See the full article at BBC News