Goodwin mulls sale of "substantial" part of Mechanical Engineering arm

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Goodwin PLC on Friday confirmed it has launched a strategic review, including considering the potential sale of a substantial part of its Mechanical Engineering division.

The Stoke-on-Trent, England-based engineering and refractories company said the review aims to maximise shareholder value while ensuring continuity for customers and the long-term prosperity of its businesses.

Assets under review include GSC, GI, Noreva, Easat and Pumps. Goodwin said discussions continue, and there is no certainty a transaction will be completed. Rothschild & Co is advising on the review.

Goodwin shares jumped 12% in response to 21,000.00 pence each on Friday morning in London.

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