Aerospace group Umeco has confirmed that it is in discussions to sell its supply chain business.
In its interim management statement it said: “The board can confirm that it is continuing to pursue non-exclusive discussions which may or may not lead to a sale of its supply chain business.”
Umeco Supply Chain is a provider of distribution and supply chain outsourcing services primarily to OEMs in the aerospace and defence markets. It specialises in the supply of small and medium value components. The businesses trade globally as Pattonair.
Pattonair operates through a network of facilities and teams located in Europe, North America and Asia. The company covers a range of customer needs from urgent product requirements to long range outsourcing partnerships.
Customers include Rolls-Royce, BAE Systems, Safran Group, Parker Aerospace, Goodrich, Thales Aerospace, Turbomeca, ATK, Lockheed Martin and the US Department of Defense.
Last year Umeco Supply Chain produced an operating profit of £15m on sales of £234.6m.
Umeco also has two specialist composite materials businesses which last year produced total sales of £174.8m and an operating profit of £16.6m.